India : Jewelry export drops over 7.2%

Demand for Indian jewelry in US has declined due to appreciation of Rupee. Exports have also gone down by 7.23 percent from Rs7,563.96 crore last year to Rs7,017 crore in September this year. Weakening of Dollar, might further bring down the profit levels for Indian exporters.
Export of gold jewellery in particular dropped from Rs2,157.74 crore to Rs1,746.37 crore, while that of diamond fell 1.73 percent to Rs4,936.18 crore.
Compared to last year, however, the over all export of Gems and Jewelry has gone up 9.41 percent.
Same is the case for imports of diamonds and colored gems, which have declined considerably. In spite of which, on an over all level, the imports have risen by 22.59 percent from Rs28,593.72 crore last year to Rs35,052.78 crore this year.