Argyle Pink Diamond Cup

An intriguing polo match between Royal Jaipur Polo team and Western Australia Polo team was hosted recently by Rio Tinto to mark the inaugural Argyle Pink Diamond Cup.

Post By : IJ News Service On 14 January 2013 4:59 PM
According to the annual Export performance figures for the financial year 2008-09 released by the Gem and Jewellery Export Promotion Council (GJEPC), the Indian gem and jewellery industry encountered 18.88 percent fall in H2 of FY 2008-09. The dip has been attributed to the slowdown in the USA in second of FY 2009. But overall, the gem & Jewellery industry has seen a 1.45 percent growth in dollar terms, resulting in total exports worth US$ 21117.58 million in the period April 2008 – March 2009, while in the corresponding period of the previous year, the export figures amounted to US$ 20816.47 million. The gem & jewellery sector accounted for 13 percent of India’s total merchandise exports. %% The growth in the sector was primarily generated by gold jewellery sales which clocked a 23.64 percent increase in FY '09. The exports grew from US$ 5545.65 million in 2007-08 to US$ 6856.87 million in 2008-09, but SEEPZ at Mumbai, owing to its dependence on US witnessed a fall of 21.61 percent in exports over the corresponding period of last year. The exports of cut and polished diamonds (CPD) witnessed a decline of 8.24 percent with exports decreasing from US$ 14194.13 million in 2007-08 to US$ 13024.53 million in 2008-09. The export of the cut and polished diamonds in volume terms has decreased to 40.2 million carats in April 2008 – March 2009, as compared to 43 million carats in the same period last year. %% Export of coloured gemstone also decreased by 3.68 percent in dollar terms with sector witnessing a decline from US$ 276.11 million in 2007-08 to US$ 265.95 million in 2008-09. UAE was the largest exporting destination with 31 percent of exports to the market, followed by Hong Kong with 25 percent and USA with 20 percent. Mr. Vasant Mehta, Chairman, GJEPC speaking at the Conference said, " In spite of slowdown in H2 the industry could achieve a flat growth and performed reasonably close to its target of US$21.9 billion. Decrease and cancellation of orders from US and other major markets have lead to retrenchment to an extent in the sector. As an industry and GJEPC we have tried to extend support and aid to the affected workers. Gem & Jewellery Industry today enjoys a leadership position globally in manufacturing of diamonds, which is attributed to the in-house expertise of cutting and polishing. The reallocation of workers to any other sector, would mean developing skill and competence all over again.” %% To inspire the industry’s growth, GJEPC is undertaking focused initiatives – hosting a ‘By invitation’, Buyer-Seller Meet between Indian Diamond & Color Stone Manufacturers & select overseas & domestic buyers (jewellery manufacturers & retailers), additional marketing and promotion initiatives in the current year like Buyer seller Meets with China and European Nations; Brand India Campaign in ME and GCC Countries; Diamond Jewellery Promotion in India. It has entered into MoU’s with the Government of Gujarat and the Gemological Institute of America to set up and run G & J institutes.

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