Gems, Jewellery on upward trend
The gem, jewellery and diamond exports are showing signs of increased
contribution in foreign income generation this year. The sector recorded
17 percent increase in earnings in July this year compared to the
corresponding period last year, National Gem and Jewellery Authority
Chairman and CEO Gen Rohan Daluwatte told Daily News Business.
The total value of gem, jewellery and diamond exports rose from Rs
25.6 billion in 2010 to Rs 30.02 billion in 2011 July. The most
significant growth was recorded by the gem exports where it recorded
32.5 percent increase generating Rs 5.73 billion in 2011 compared to Rs
4.3 billion last year.
The jewellery export too recorded growth where the increase was 17.5
percent. The exports rose from Rs 850 million last year to Rs 999
million up to July this year.
The diamond re-exports sector where rough diamonds are imported and
re-exported with value addition recorded 13.7 percent growth earning Rs
22.8 billion from Rs 20.1 billion as at last July. The diamond mounted
gem exports recorded a growth of 22.6 percent from Rs 190 million to Rs
233 million this year.
This sector recorded a cumulative growth of 8.9 percent compared to
July last year.
“We could see a steady growth in export revenue generation and this
augurs well for the export sector of the country when meeting targets.
This is a positive trend,” the Chairman said.
“We are in the process of finalizing evaluation of export generating
markets and will be entering Turkey in a big way shortly.
“There will be a Sri Lankan Pavilion at the Istambul Jewellery Show
to be held from October 13 to 16. This is the first time that we are
concentrating on Turkey and we expect this to generate more businesses,”
Sri Lanka will continue to supply fine quality calibrated gems and
precious cut gem stones and is the only supplier in the entire global
market at present.
“A leading group of gem and jewellery exporters will participate at
the Istambul show and we expect that they would build business contacts
with Russian buyers where there is a growing market,” he said.
Commenting on the Facets, Sri Lanka’s international gem and jewellery
show to be held in next month, the National Gem and Jewellery Authority
Chairman said that apart from having a pavilion the Authority will
sponsor 20 export ready SME companies to enable them to make the show as
a launching pad to enter into international market.