Jewellery imports jump 33%

Mumbai, Feb 14 Imports of gems and jewellery in the country rose by 33.29% during the first ten months of the current fiscal, primarily driven by the zero import duty on diamonds, the Gem & Jewellery Export Promotion Council said on Thursday.
"Zero duty on imports of diamonds has pushed up the country's overall imports in value terms. However, there has not been a major rise in volumes," GJEPC chairman Sanjay Kothari told PTI.
Imports of gems and jewellery went to $14,291.28 million in April-January period owing to a rise in shipment of rough, cut and polished diamonds, it said. India imports diamonds from London, Belgium and Israel.
According to the GJEPC data, imports of cut and polished diamonds rose by 153.64% to $4159.48 million during April-January period from $1639.91 million in the year-ago period.

Posted in: jewellery imports