Gems & jewellery exports grow 7.5% in June

Gems and jewellery exports had declined by 12% in May

Gems and jewellery exports registered a growth of 7.5% in June year-on-year to $4.2 billion on rising demand from new markets.

Gems and jewellery exports declined by 12% in May.

The exports stood at $3.9 billion in the same period last fiscal, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC).

"Exporters are getting good number of orders from American buyers. Also, demand is picking up in emerging markets like Latin America and Africa," the GJEPC Chairman Rajiv Jain said.

He, however, said the demand is still sluggish in the European market.

The major markets for the country's jewellery include Europe, the US, the UAE and Hong Kong.

However, during April-June, the gems and jewellery exports dropped about 7% to $10 billion over the the same period last year.

The council is hopeful that the country's gems and jewellery exports would touch $40 billion in the current fiscal.

During 2011-12, these exports remained flat at about $43 billion compared to the previous fiscal.