Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (59492)	10/6/2000 2:37:14 PM
From: lorne	Respond to of 116763

Indian Government: Gem & jewellery exports up by over 14 per cent encouraging trends during current year Story Filed: Friday, October 06, 2000 10:43 AM EST OCT 6, 2000, M2 Communications - Exports of gem & jewellery from India during the current financial year (April-July) 2000-2001 are estimated to have increased by 14.30 per cent in dollar terms. Total exports in the gem & jewellery sector during this period are estimated at US $ 2180.88 million (i.e. $ 2.1 billion) as against $ 1907.95 million during April-July 1999. Of this, cut & polished diamonds accounted for $ 1911.86 million (i.e. $ 1.9 billion), followed by gold jewellery, coloured gemstones etc. The gem & jewellery sector with exports worth about US $ 8 billion in 1999-2000 as against $ 6 billion in 1998-99 has shown a consistently high growth in the last two years and the trend is being sustained. Out of the total gem & jewellery exports of $ 8 billion last year, the share of diamonds was around $ 6.6 billion, thereby accounting for 82.5 per cent of exports in the gem & jewellery sector. Interestingly, this growth and a predominant position in the world market has been achieved by the Indian diamond industry without having the benefit of the availability of indigenous rough diamonds. Various policy initiatives announced in the Exim Policy such as establishment of private/public bonded warehouses, the newly introduced Diamond Dollar Account Scheme and the permission for personal carriage of import or export parcel etc. should facilitate India becoming a global diamond trading centre. Another important segment of the gem & jewellery sector is gold jewellery which recorded an export growth of more than 28 per cent last year (1999-2000) having crossed US $ 1 billion ($ 1087 million) as against $ 846 million in the previous year. A beginning has also been made in the direction of exporting branded and hallmarked gold jewellery. Steps taken by the government to boost export of jewellery also include permission to status holders for the first time to import directly gold/silver/platinum and also semi-finished gold/silver/platinum jewellery for manufacture and export of gold/silver/platinum jewellery. ((M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at presswire.net on the world wide web. Inquiries to info@m2.com)). library.northernlight.com