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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 “Focused Sri Lanka” 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.

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