India's Gems and Jewellery exports +16.7% in June
India's gem and jewellery exports grew by 16.7 per cent at USD 3.9 billion in the month of June on Y-o-Y basis. Earlier this month, the exports were grew by 33.5 per cent.
According to traders, the demand from major markets like the UAE and the US, was declined in June.
According to the Gems and Jewellery Export Promotion Council (GJEPC) data, the exports during the corresponding period in the 2010-11 fiscal stood at $3.3 billion.
Mr Ajay Sahai, Director General, Federation of Indian Export Organisations (FIEO), said, “There is a sluggish demand from markets like the UAE, the US and Hong Kong.”
According to the data revealed by the GJEPC, out the country's total gems and jewellery exports, the UAE accounts for about 30%, followed by the US at 25% and Europe at 20%. Silver jewellery exports saw the maximum growth of 59% year-on-year during the month under review June, about 51% growth was seen in the gold jewellery, gold medallions and coins exports were at 38% and coloured gemstones were at 34%.
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