Gems and jewellery exports dipped by 17.69 per cent in March to Rs 22,755.81 crore due to 2 per cent import duty on polished diamonds, Gems & Jewellery Export Promotion Council (GJEPC) said. The exports in March, 2011 stood at Rs 27,649.18 crore.
In fical year 2012, however, there was a marginal rise in exports of about 4.64 per cent to Rs 2,04,823.66 crore compared to Rs 1,95,735.84 crore in the previous fiscal, GJEPC Chairman Rajiv Jain said.
The exports of cut and polished diamonds witnessed a decline of 13.64 per cent to Rs 1,10,978.84 crore 2011-12 compared to Rs 1,28,514.06 crore in the previous fiscal. The growth in the sector was mainly driven by gold jewellery, which registered a growth of 10.04 per cent. Coloured gemstone exports witnessed an increase of 15.40 per cent to Rs 1,653.13 crore compared to Rs 1,432.54 crore.