“India’s gems and jewellery exports fell about 41 per cent year-on-year to $2.3 billion in June, 2013 on account of shortage of gold and limited inventory in domestic market. In June last year, these exports stood at $4 billion, according to the Gems and Jewellery Export Promotion Council (GJEPC). ‘The exports declined drastically in June as there was a shortage of raw-material for jewellery manufacturing. This was because the government had taken steps to curb gold imports,’ GJEPC chairman Vipul Shah said.
The major markets for the country’s jewellery exports are the US, Europe, Middle-East, Hong Kong and Japan.”
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