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Gems and Jewellery exports declined by 14.5 percent
Posted on: 08/Mar/2016 1:07:57 PM
Gems and Jewellery exports declined by 14.5 percent. In the April-January period of last fiscal, the exports stood at USD 322 Crores. In the last fiscal year it was USD 554 Crores. Exports of cut and polished diamonds fell to USD 1583 Crores during the ten-month period from USD 1911 crores a year ago. The sector contributes about 14 percent to the country`s overall exports.
During the ten-month period of the current fiscal, consignments worth USD 515 Crores were returned as compared to USD 273 Crores during the same period previous year. Exports of gold medallion and coins, however, increased to USD 450 Crores during the ten-month period of this fiscal from USD 203 Crores in the same period previous fiscal. The government is hopeful that incentives such as 3 per cent interest subsidy and enhanced rate for duty drawback could help contain the decline.
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