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India Gems,Jewellery exports drop last fiscal

# jewelry sales  # India gold  # gems exports  

In 2011-12, India exported gems and jewellery worth $46,956.95 million and imported gems and jewellery worth $92,222.03 million.

NEW DELHI(BullionStreet): Percentage share of India's gems & jewellery sector in the total exports of the country has declined from 15.41% in 2011-12 to 14.28% in 2012-13, according to official figures by country's commerce ministry.

The ministry said there has been a steady growth in the exports/imports of gems & jewellery items between 2009-10 and 2011-12 but some decline has been noticed in the year 2012-13 which was due to the global economic slowdown.

India exported gems and jewellery worth $29,081.11 million during 2009-10 while imported gems and jewellery worth $46,082.00 million.

During 2010-11, these figures were $40508.72 million and $77,216.15 million respectively.

In 2011-12, India exported gems and jewellery worth $46,956.95 million and imported gems and jewellery worth $92,222.03 million.

Indian jewellery manufacturing industry has mastered in modern tools of manufacturing and has blended it with its traditional expertise.

With the use of state of art manufacturing facilities, the industry has strengthened its position in the global market and has established itself as the International diamond manufacturing hub and is dominating the world’s cutting and polishing sector for the past several years, the ministry added.

Gems and Jewellery Sector, such measures include permission to import diamonds on consignment basis for certification/grading and re-export by specified agencies, increasing the limit of personal carriage of gems & jewellery products in case of participation in overseas exhibitions and in case of export promotion tours etc.

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