Gems, jewellery exports glitter in April

Demand rises in US and emerging markets but still sluggish in Europe

After declining three per cent in March, India's gems and jewellery exports witnessed a robust growth of about 33 per cent to $3.38 billion in April 2013.

In April 2012, these exports stood at $2.55 billion, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC).

"These exports saw a very healthy growth as demand is rising not only in the American market, but also in emerging markets like China, Russia and Latin America," GJEPC Executive Director Sabyasachi Ray said.

But, the European market is still sluggish, he added. The major markets for the country's gems and jewellery exports include the US, the UAE, Hong Kong and Europe.

Among the categories which witnessed growth in April, silver jewellery topped the list with a robust growth of 469%, followed by coloured gemstones 218%, cut and polished diamonds 37% and gold medallions and coins 13.2%.

However, outward shipments of gold jewellery saw a decline of 13.8%.

During 2012-13, the gems and jewellery exports declined by 9.4% year-on-year to $39 billion due to weak demand in western markets.

The council feels that in 2013-14 these exports would grow between 10% and 15% compared to the last fiscal.

Gems and jewellery constitute 17% of India's total exports and the sector employs 1.5 million people.