Rise In Gems And Jewellery Exports Cheer Sme Units

Demand resurgence in chief Western markets such as the US and Europe has provided a boost to the export of gems and jewellery from India

. According to the recent data compiled by the Gem and Jewellery Export Promotion Council (GJEPC), gems and jewellery exports have gone up by 16% to US$28.41 billion in 2009-10 as compared to US$24.49 billion recorded in 2008-09.

With sentiments in the global market turning positive, consumer spending on luxury items has also gone up. SME gems and jewellery export units, which faced plunging margins during recession, are now again witnessing an upsurge in demand and sales with the recovery in the global economy, said Vijay Soni, proprietor of Mahabir Jewellers, a small-sized gold and kundan jadau jeweller in Kolkata.

According to data, export of cut and polished diamond also recorded an upsurge of 20.11% to US$17.54 billion in 2009-10 as compared to US$14.6 billion in the 2008-09, thereby bringing cheer to SME diamond polishing units in India.

SME diamond traders as well as processing and polishing units, which were compelled to shut shops due to demand slump, are now resuming their operations at full capacity in order to meet the resurgent demand, said Prakash Bharadia, proprietor of Sonali Jewellers, a small-sized diamond merchant in Surat.

Export of gold jewellery also registered an increase by 9.38% to US$9.42 billion in 2009-10, as against US$8.61 billion in 2008-09, while coloured gems stone exports shot up by 10.55% to US$286.65 million for the period under review as compared to US$259.29 million in the previous financial year.

by: David Parks

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