India’s Gem, Jewelry Exports Surge

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.

Diamond pendant

Meanwhile, cut and polished diamonds contributed  60 percent of India’s overall exports of precious metals and stones, reports the Business Standard.

 

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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