5/18/99 - INDIA 1998-99 GEM, JEWELLERY EXPORTS $6.1 BLN
<Picture>
NEW DELHI, May 19, 1999 (Asia Pulse via COMTEX) -- India has emerged as the world"s largest exporter of cut and polished diamonds during 1998-99 with market share of 50 per cent which is valued at over US$5 billion.
The segement of cut and polished diamonds which accounts for most of India"s gem and jewellery exports, registered a growth of 10.30 per cent during the year at $5 billion over $4.54 billion during 1997-98, a press release said.
Total exports of gems and jewellery from India rose 11.21 per cent in dollar terms, to $6.1 billion in 1998-99 from $5.5 billion a year ago.
The overall export figure of $6.1 billion also included shipments of gold jewellery worth $863.75 million, the release said.
The impressive growth in gems and jewellery, while all other sector reeled under the global economic recession, has been assisted by several policy initiatives taken by the government, the release said.
The government last year allowed import of plain gold, platnium and silver jewellery for repairs/remake and exports by both the export oriented units (EOU) and export procesing zones (EPZ) subject to a minimum net foreign exchange performance (NFEP) of 7.5 per cent.
PTI
-0-
(C) 1999 Asia Pulse Pte Ltd |
