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India’s jewellery exports continue growth

In spite of reducing global demand for luxury products, India’s exports of gemstones and jewellery saw a minor increase of 1.45 percent to US$21.11 billion in the financial year of 2008 to 2009.

The minor increase, which was the lowest in seven years, posted a sharp contrast to the 22-percent jump recorded in 2007 to 2008. Figures provided by Gems and Jewellery Export Promotion Council (GJEPC) show that overseas sales from the gemstone and jewellery division dropped by 18.88 percent in the period between October 2008 and March 2009.

Though gold jewellery exports rise 23.64 percent to US$6.85 billion, cut and polished diamonds, which account for 62 percent of overseas sales, fell by 8.24 percent to US$13.02 billion. Coloured gemstones, on the other hand, slid by 3.68 percent to US$260,000 million.

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