Gems and jewellery in dazzling 9.8 per cent growth
GEM INDUSTRY: Sri Lanka has recorded 9.8 percent growth in the
gem and jewellery sector during the first five months of this year.
According to National Gem and Jewellery Authority (NGJA) the country
has earned Rs. 19 billion from January to May this year through gem and
jewellery exports. It was Rs. 17 billion last year and this is a 9.8
percent increment compared to the same period last year.
A senior official of NGJA told the Daily News that diamond re-exports
have contributed Rs. 12914.8 million for the total earnings through gem
and jewellery exports and this has shown 9.5 percent growth compared to
the same period of last year.
Gem exports has contributed Rs 4754.3 million during the first five
months of this year to the total earnings and this was a 4.6 percent
growth compared to the same period of last year. Last year it was
recorded as Rs 4485.5 million he said.
Coloured stones re-exports have recorded 35.6 percent growth while
bringing Rs. 278.8 million to the country. Geuda exports brought Rs.
87.5 million to the country and last year this segment contributed Rs
77.7 million during the first five months. The official said that there
is a significant growth in both diamond jewellery exports and
gem-studded jewellery exports.
Last year gem studded jewellery recorded Rs 627.2 million during the
first five months and this year it has increased to Rs 824.1 million,
recording 31 percent growth.
Diamond jewellery exports contributed Rs. 332.7 million for the total
earnings from gem and jewellery. This is a 18.1 present growth compared
to the same period last year. Meanwhile the NGJA is also planning to
expand their promotional activities to capture the Indian market
participating in the JCK New Delhi show next year. The Authority expects
to organise a national pavilion at this show.
The Indian gem and jewellery industry has developed rapidly during
the past five years and it is important for us to operate in a market
like India, he said.
NGJA has participated in â€śFocused Sri Lankaâ€ť which was held in Los
Angeles and JCK show which was held in Las Vegas.
There was a huge demand for Sri Lankan blue, yellow sapphires at the
show. Local small scale silver jewellery manufacturers too received a
good response from the visitors at the show, he said.