Indian gem & jewellery exports up by 1.45 percent in FY 2008-09, UAE leads as export destination

The total Indian gem & jewellery industry showed a growth rate of 1.45 percent (in US Dollar terms) and 13.52 percent in Rupee terms for the financial year (FY) April 2008- March 2009, despite the 18.88 percent decline in H2 of the corresponding year, according to statistics revealed by the Gem & Jewellery Export Promotion Council of India (GJEPC). The growth in the sector was primarily driven by gold jewellery, which registered an increase of 23.64 percent in FY 2008-09. The volume of Cut & Polished Diamonds (CPD) stood at 40.2 million carats (43 million the previous year) and coloured gemstone exports reached USD $ 265.95 million (against USD $ 276.11 million the previous year).