Gems, jewellery exports may rise up to 15% in FY14: GJEPC
Mumbai: India’s gems and jewellery exports are likely to grow by up to 15 per cent this fiscal as the US and Japanese markets are expected to bounce back while China will remain stable, GJEPC today said.
“This fiscal year looks positive with an estimated growth of 12-15 per cent in the overall gems & jewellery exports. The US and Japanese jewellery markets will bounce back with an estimated 5 per cent growth while China will remain stable at 10 per cent growth,” Gem & Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah told reporters.
Other proposals in the offing this year are regulatory measures like introduction of consignment imports of diamonds, start of rough diamonds tenders and auctions in India, he said.
It also included formation of committee for looking into lending norms for banks to the diamond and jewellery sector as well as commissioning of a study on Export Credit Insurance to Banks (ECIB) covered by Export Credit Guarantee Corporation of India (ECGC) to banks.