Records Rs 26 m income with 50% growth:

Unprecedented demand for Lankan gems

Sanjeevi JAYASURIYA

The gem, diamond and jewellery sector has secured an overall growth of 50% as at end January 2012 earning a revenue of Rs 5,725 million in comparison with the corresponding figure of Rs 3,808 million in 2011.

The export of gemstones brought in a revenue of Rs 1,635 million recording a 39% growth while jewellery exports generated revenue of Rs 301 million showing an impressive 121% growth. The service cutting industry showed signs of recovery by recording a Rs 26 million income with a 50% growth.

"The feed back we are getting from traders who returned from the recently concluded 'GLDA' Tucson show is very encouraging. Regular American buyers are showing a keen interest in fine quality blue sapphires of large sizes and the prices fetched by unheated sapphires were unprecedented," National Gem and Jewellery Authority Chairman Prasad Galhena told Daily News Business.

In its export market promotion programme this year the National Gem and Jewellery Authority (NGJA) intends to organize "Sri Lankan Pavilions" in a number of international gem and jewellery events.

There will be several mega events such as the Jewellery Shanghai Show, Hyderabad Jewellery, Perl and Gem Fair, Hong Kong International Jewellery Show, Malaysia International Jewelex, China International Jewellery Show (Beijing) and China International Gold, Jewllery and Gem Fair (Shanghai) during this year.