TIL Desk/Business/New Delhi-Exports of gems and jewellery grew by 11 per cent to USD 14.43 billion during the first five months of the current fiscal, driven largely by demand in India’s major markets like the US. In April-August period of the last fiscal, exports from the sector were at USD 13 billion, according to the data from Gems and Jewellery Export Promotion Council (GJEPC).
Gems and jewellery contribute about 14 per cent to the country’s overall exports. The rise in April-August period was mainly supported by exports of cut and polished diamond. It rose to USD 9.19 billion during April-August 2016-17 from USD 8.64 billion a year ago.
Exports of silver jewellery grew by 52.6 per cent to USD 1.67 billion during the five months period of this financial year. “In the traditional market destinations including the US and Europe, the demand is gradually picking up and it is helping exports,” an official said.
