India’s gems and jewelry exports increased by 9 percent for financial year 2016-17 due to demand from the United States, Hong Kong and the United Arab Emirates, the three destinations accounting for over 75 percent of India’s overall shipment of precious ornaments by value.
India’s Gems & Jewelry Export Promotion Council, said that net exports for the financial year 2016-2017 were $36 billion, while for the previous financial year, the number was $32.6 billion. Praveenshankar Pandya, chairman of the Gems and Jewelry Export Council estimated exports to increase by a further 10 percent for the current financial year 2017-18.
Meanwhile, cut and polished diamonds contributed 60 percent of India’s overall exports of precious metals and stones, reports the Business Standard.
