During a press conference at the IIJS Signature gem and jewelry trade show in Mumbai earlier this week, Gem & Jewellery Export Promotion Council (GJEPC) Chairman Pramod Agarwal said that the country’s diamond and jewelry exports will grow between 15% and 20% in 2018.
According to Gem Konnect, Agarwal claimed that the growth will come “from a resurgent Europe and new markets like Latin America, Africa and the Confederation of Independent States (CIS)”. He added that the much cheaper to make costume and fashion jewelry will “get more attention in terms of promotional efforts by GJEPC this year”.
Data released by GJEPC in late January showed that in December, India’s exports of cut and polished diamonds rose 7.7% year-on-year to $1.59 billion. From April to December, polished diamond exports were up 1.9% year-on-year to $17.2 billion.
