Mumbai, Oct. 21: The domestic gem and jewellery industry has reported a record growth of 13.61 per cent in April-September 2003 with total industry exports touching $4784.76 million (Rs 22247.04 crore) compared with $4211.54 (Rs 20471.07 crore) in the year-ago period.
“We are no longer just a market to source diamonds,” chairman of Gem and Jewellery Export Promotion Council Sanjay Kothari said.
“The gem and jewellery industry has been the country’s leading revenue earner. The 13.6 per cent half- yearly growth accounts for 18 per cent of India’s exports and 17 per cent of foreign exchange earning,” he added.
International exhibitions, namely India International Jewellery Show 2003 in July and the Jewellery Arabia 2003 in Bahrain have fuelled the surge in exports. The sector has reported a rise in exports even after the global economy was drastically hit by SARS and the Iraq war.