The country’s gems and jewellery exports have registered a 12.9 per cent and 21.6 per cent growth in rupee and dollar terms, respectively, in the first quarter ended June 30, 2007. This is notwithstanding a sharp rupee appreciation against the dollar in the last six months.
According to figures released by the Gems and Jewellery Export Promotion Council (GJEPC), the provisional net exports of gems and jewellery stood at Rs 18,398.5 crore in April-June this year, compared with Rs 16,298 crore in the same period the previous year. In FY07, gem and jewellery exports amounted to Rs 77,180.28 crore ($17.1 billion).
Exports of cut and polished diamonds stood at Rs 12,056.46 crore in the quarter, against Rs 10,810.17 crore in the comparative period last year. Exports of rough diamonds declined by 9.55 per cent, garnering Rs 535.58 crore in Q1 FY08 compared to Rs 592.16 crore in the same period last year.
Exports of coloured gemstones improved marginally, notching up Rs 223.52 crore as compared to Rs 222.90 crore. Exports of non-gold jewellery, pearls and synthetic stones jumped about 80 per cent, increasing to Rs 304.95 crore from Rs 169.33 crore in the corresponding period last year.
Gold jewellery exports remained more or less static at Rs 3,034.43 crore as compared to Rs 3,020.44 crore. Exports of gold jewellery from export promotion zones increased from Rs 1,483.1 crore to Rs 2,243.60 crore in Q1 FY08.
Imports of rough diamonds equalled Rs 10,435.56 crore in the quarter, as compared to Rs 9,852.72 crore in the same period last year. Gold bar imports have come down by 29.56 per cent to Rs 1,122.16 crore as against Rs 1,593.05 crore. Imports of cut and polished diamonds have jumped 84.32 per cent, showing Rs 3,919.62 crore as against Rs 2,126.56 crore in the year-ago period.
The overall net imports of gem and jewellery during the quarter increased by 16.21 per cent at Rs 16,449.04 crore, as against Rs 14,154.59 crore in the last comparative period.