Tuesday, September 25, 2007
An appreciating rupee is likely to impact India's export of gems and jewellery as the increasing Indian currency would make these exports less spirited in key markets like the US, Hong Kong and UAE. Export of gems and jewellery would be unfavorably affected if the rupee appreciation against the dollar is not arrested, Assoc ham said in a study on the Gems and Jewellery model in the country.
Sops announced by the government should be implementing to arrest a possible refuse in gems and jewellery exports including those of cut and polished diamonds.
It also needs to be ensuring that exporters do not lose their boundary in markets of US, Belgium, Israel, Hong Kong, UAE, Singapore, Thailand and Switzerland, it said
Of the 12 diamonds set in jewellery worldwide, 11 come from India.
Exports of jewellery from India, the world's largest manufacturer, grew 24% for April-August period of the current fiscal to $7.75 billion. India's export of gems and jewellery rose 3% to $17 billion in 2006-07 from $16.6 billion a day ago. While the rupee rise is hurting exports, the home market for gems and jewellery is witnessing healthy growth.
Changing lifestyles and rising income levels even in tier II and III cities will guide to a surge in demand for jewellery, which is anticipated to reach $20 billion by 2010 and $30 billion in 2015. The sector also holds the potential to produce additional employment for three lakh people annually, Assoc ham said.
posted by kanth
@ 5:07 AM
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Sunday, September 02, 2007
The Gemstone diligence looks to be one sector that operates without established system and players function according to their own wishes. This is particularly rife in the selling of gemstones as miners and middlemen appear not to follow any established regulations on dealings.
For valuable stones such as emeralds, ruby, transactions are frequently shrouded in secrecy and it not unbelievable to end up that large part of emeralds fashioned in Zambia are smuggled out of the country.
For valuable stones such as emeralds, ruby, transactions are frequently shrouded in secrecy and it not unbelievable to end up that large part of emeralds fashioned in Zambia are smuggled out of the country.
posted by kanth
@ 11:21 PM
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