Gems and Jewelry exports from India to rise 10% in FY2017
Gems jewellery | By:
Gem Jewellery Export Promotion Council (GJEPC) anticipated a good year for gems and jewellery exports from India. As per a report published in Art of Jewelry, the GJEPC is expecting “a growth of about 10% this fiscal because of increasing demand in the US and Europe”.
GJEPC Chairman Praveen Shankar Pandya said, "When the economy improves, there are more jobs and a rise in demand for jewelry. It is already a big market, which is expected to be even bigger”. He further added that exporters are waiting what Trump does with the North American Free Trade Agreement (NAFTA) - “a three-country accord negotiated by the governments of Canada, Mexico and the United States”. He also said, that "If NAFTA is abrogated, the exports will increase. However, the negotiations will have to be done carefully”. Even though, Pandya said, the situation is improving in Europe but the US dollar and Euro parity have made things “more competitive”.Source: The Israeli Diamond industry