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Gems and jewellery exports rise 4%

Press Trust of India/ 11 Aug 17 | 05:49 AM

Gems and jewellery exports grew nearly four per cent to $9.17 billion during the first quarter of the current financial year, driven largely by demand in major markets like the US.

In the April-June quarter of the last financial year, the sector's exports aggregated to $8.84 billion, according to the data from the Gems and Jewellery Export Promotion Council (GJEPC).

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The labour-intensive sector contributes about 14 per cent to the country's overall exports.

The rise in shipments was mainly supported by exports of silver jewellery, and gold medallions and coins.

Silver jewellery exports increased to $1.71 billion during April-June 2017-18, from $958.65 million a year ago.

Similarly, shipments of gold medallions and coins registered a growth of about 42 per cent to $1.51 billion during the period under review.

Gold jewellery shipments recorded a meagre growth of 1.78 per cent during the first three months of the current financial year.

Exports of cut and polished diamonds, coloured gem stones and rough diamonds also reported positive growth.

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