Comments
Gems and jewellery exports declined by about 12 per cent year-on-year to $2.8 billion in July due to weak demand in major markets like Europe.
These exports stood at $3.3 billion in the same period last fiscal, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC).
“The demand is still sluggish in traditional markets like Europe,” a GJEPC official said.
The major markets for the country’s jewellery include Europe, the US, the UAE and Hong Kong.
The exports of cut and polished diamonds declined by 46 per cent and gold medallions and coins exports dropped by 38 per cent, in July 2012.
During April—July this year, the country’s overall gems and jewellery exports dropped about 9.5 per cent to $12.9 billion compared to $14.33 billion in the same period last year.
These exports remained flat at about $43 billion in 2011—12 compared to the previous fiscal.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.