The Gem and Jewellery Export Promotion Council (GJEPC) released the annual Export performance figures for the financial year 2010-2011 in Mumbai today.
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| Gem & Jewellery Exports- over the past decade |
One of India’s leading foreign exchange earning sectors over the year has witnessed a considerable growth in the volume of exports from export figures of US$ 29358.49 million in the FY 2009-2010, to US$ 43139.24 million in FY 2010-2011, thus indicating a net increase of 46.89% in the total Gem & Jewellery exports. The performance of this industry is critical as it contributes 16.67% to India’s total merchandise exports.
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| Cut & Polished Diamonds |
The growth in the sector was primarily driven by Cut & Polished Diamonds which registered an increase of 54.91% in FY ’11. The exports grew from US$ 18243.92 million in 2009-10 to US$ 28251.92 million in 2010-2011. Cut & Polished Diamonds accounted for 65.49% of the total exports baskets with Gold Jewellery comprising of 29.86% while Colour Gemstones and other accounted for 4.69%.
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| Gold Jewellery |
Gold Jewellery exports have also been on a rise with the figures accounting for a 33.27 % increase over FY’11. From US$ 9678.67million in 2009-2010 to US$ 12885.59 million in 2010-2011, the increase is apparent. Colored Gemstone exports also increased by 9.68% in dollar terms with sector witnessing a rise from US$ 286.78 million in 2009-2010 to US$ 314.54 million in 2010-2011.
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| Destination wise Export of Gems & Jewellery |
FY10- FY’11 saw UAE emerge as the largest exporting destination with 47% of exports to the market, followed by Hong Kong with 22% and USA with 11% of exports.
GJEPC will host IIJS Mumbai 2011 from the 4th to 8th August 2010. This property over the years has established itself as one of the largest Jewellery show in Asia and is undeniably a breeding ground to foster relations with other markets across the world. Righty declared as the ‘Made in India’ Show by the Government of India, IIJS 2011 promises business like never before.
To showcase India’s Prowess in Design and Manufacturing to the End Buyers both International and domestic through B2C platforms, GJEPC launched the India International Jewellery Week last year. Starting July 31st, 2011, Mumbai will host the 2nd edition of IIJW.
GJEPC will continue with their marketing and promotion initiatives in the current year, some of them include, Buyer seller Meets with China , Russia, USA and Europe in 2011; Colour Gemstones Mines to Market is scheduled for September 2011 aimed at addressing issues regarding the colour stone industry.
Expanding its role and taking on the onus of improving skill sets for the Industry, The Gem & Jewellery Export Promotion Council (GJEPC) helps in generating skilled work force through their institutes across the country like IIGJ, GII, IDI etc. Their association with the World’s Craft Council earlier this year was another of such initiative.
