Gems, jewellery, diamond exports rise:

Export value exceeds Rs 7.3 b

Sanjeevi JAYASURIYA

Gems, jewellery and diamond exports recorded a total increase of 34 percent in February this year compared to corresponding period last year.

The total value of exports in February 2010 was Rs. 7,358.6 million. It was Rs. 5,473.6 million in 2009.

The industry growth was contributed by 12 percent increase in gems, 6 percent increase in gem studded jewellery and 46 percent increase in diamond exports.

National Gem and Jewellery Authority (NGJA) Acting Deputy Director General Ajith Perera said, Sri Lanka will participate in eight international events to facilitate market opportunities by having Sri Lankan pavilions.

"The currently held International Gold Jewellery Gems Fair in China Shenzhen is a huge success and there are positive responses," he said.

"This is the first time that Sri Lanka has organized a pavilion in this show and the feedback is encouraging.

There are 17 Sri Lankan companies participating under the Sri Lankan banner and the buyers have a keen interest on this pavilion", Perera said.

There are a number of international shows including the Jewellery Shanghai Show in April and the New Russian Time in May.

This is the first time that Sri Lanka is participating in a Russian show.

The country needs to focus on new markets as the traditional markets are yet to recover from the global economic downturn.

The possibilities in the countries such as Russia, India, China, Turkey and the Middle East are being looked into.

The NJGA has taken many initiatives to develop the industry and to promote international markets.

Efforts to increase the land available in gemming through land auctions carried out by the NJGA will facilitate to increase raw material supply.

This enables the industry to offer goods at more competitive rates.

The gem and jewellery industry is an important part of the SME sector and its development will also fuel export growth.