Nation's gems and jewellery exports registered a healthy growth of 33.5 percent to USD 3.7 billion in May compared to same month last year, as per Gems and Jewellery Export Promotion Council (GJEPC) .
According to the council's data, the exports during the corresponding period in last fiscal stood at USD 2.7 billion.
Giving the credit to rise in demand from markets like the UAE and the US, GJEPC Chairman Rajiv Jain said, "Exporters are receiving good number of orders for our products from markets like the UAE, the US and Hong Kong. We expect the exports to grow 10-15 percent in the current fiscal as compared to the last fiscal."
The UAE accounts for about 30 percent of the country’s total gems and jewellery exports, followed by the U.S. (25 percent ) and Europe (20 percent ).
As per the GJEPC data, exports of gold medallions and coins saw the maximum growth of 77 percent year-on-year in May, followed by silver jewellery (56 percent ), gold jewellery (26.5 percent ) and cut and polished diamonds (23.5 percent ).