Gems, jewellery exports to touch $42 bn this year: GJEPC
DSIJ Intelligence / 15 May 2017
India's gems and jewellery exports in FY17-18 could grow to around $42 billion due to higher demand in the Middle-East and South-East Asia.
India's gems and jewellery exports in FY17-18 could grow to around $42 billion due to higher demand in the Middle-East and South-East Asia. In 2016-17, India's exports stood at around $36 billion, reported a national news portal.
India's exports to Europe are considerably lower. "But in the US, Middle-East nations and South-East Asia, demand is growing. We are expecting that our exports will reach about USD 41-42 billion this fiscal,” said Anil Sankhwal, northern region chairman of Gems and Jewellery Export Promotion Council (GJEPC).
He further cautioned that the imposition of 5% import duty on gold and diamond jewellery by Dubai could impact the exports in an adverse manner. Therefore, the problem needs to be addressed as Dubai is an important market, the national news portal stated.
GJEPC is reportedly organising a buyer-seller meet in the national capital in order to boost exports.
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