Gems & jewellery exports from India grew 10% year-on-year to $43,156.21 million in the financial year 2016-17, according to figures released by Gem & Jewellery Export Promotion Council (GJEPC).
Gross exports of cut and polished diamonds in FY17 increased to $ 22,783.81 million, up 10.24%, compared with $ 20,667.79 million in the previous year.
Exports of gold jewellery rose 1.92% to $ 8721.81 million as compared with $ 8557.26 million in 2015-16 while exports of silver jewellery climbed 35.83% to $ 4 020.62 million.
However, exports of coloured gemstones dropped 3.08% to $ 419.9 million in 2016-17 as compared with $ 433.18 million in the previous year. The gems & jewellery exports of 2016-17 accounted for 15.72% of the country’s cumulative exports of $274.65 billion.
Praveenshankar Pandya, Chairman, GJEPC, said, “This year's growth rate is very positive despite the disruptions across the globe 2016.”
“We have now expanded the areas of influence to capitalize on the growth opportunity presented by a buoyant U.S. market and revival in other developed economy,” he said.
“Having crossed the $40 billion mark in exports in 2016-17 we are now devising a strategy for Vision 2022. The focus will be on exports, education, employment and value addition.”
