India’s gem and jewellery exports rise by 61.80% in January

India’s total gem and jewellery exports in January 2010, increased 61.80 percent to US$ 2,620.71 million, from US$ 1,619.77 million in January 2009. Cut and polished diamond exports in the said month rose by 89.02 percent to US$ 1,709.68 million, over US$ 904.48 million in the same month last year. The growth, as stated by the Gem and Jewellery Export Promotion Council (GJEPC), is observed due to reduced export activities in January 2009.

Coloured gemstones exports rose 52.4 percent to US$ 39.09 million in the month under review, while in January 2009, it amounted to US$ 25.65 million.

Gold jewellery exports in January this year increased by 27.95 percent to US$ 776.97 million, when compared to US$ 607.23 million worth of exports in January 2009. The GJEPC notes that the average quantum of gold or base metal used in the studded jewellery with smaller diamonds is higher than studded jewellery having larger diamonds, and although gold prices did increase last year, exports dipped. This pattern shows a decrease in number of pieces being exported.