The Hindu : Gems and jewellery exports cross $10 b in 2003

Online edition of India's National Newspaper
Thursday, Jan 15, 2004

Business

Business

Gems and jewellery exports cross $10 b in 2003

By Our Staff Correspondent

MUMBAI, JAN. 14. Indian gems and jewellery exports have crossed the $10 billion mark for the calendar 2003. According to the Gems and Jewellery Export Promotion Council (GJEPC), provisional figures for 2003 indicate exports of $10.646 billion against $8.708 billion in the previous year.

Of the total, cut and polished diamonds accounted for $8.023 billion ($6.894 billion), jewellery $1.857 billion ($1.342 billion), coloured gemstones $187.51 million ($189.07 million) and other items (including rough diamonds, non-gold jewellery, pearls and synthetic stones) of $578.64 million ($282.03 million).

Sanjay Kothari, Chairman, GJEPC, said, "The industry has grown from its modest origins in the 1960s till date as the world's largest manufacturing centre of cut and polished diamonds contributing to 60 per cent of the world's supply in terms of value, 85 per cent in terms of caratage and 92 per cent in terms of pieces. India has achieved this status in a year when the global economy was plagued with SARS and the Iraq war. We are confident of successfully accomplishing exports of $16 billion by 2007.''

Further, Mr. Kothari added that the GJEPC had a two-fold vision of doubling gems and jewellery exports and also attaining the position of being the foremost trading centre in the world. Towards this end, the GJEPC recently set up Indian Institute of Gems and Jewellery (IIGJ) along with the jewellery product development centres that offer a variety of courses in jewellery crafting and manufacturing.

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