Indian Jewelry Exports Rise
India has always been known as one of the cheapest options for companies and businesses to produce goods. With the growing number of goods produced, it is not wonder that the Indian jewelry industry continues to grow. Not many people know that the Indian jewelry found in high end stores across the world have been imported from India. The high quality items with a low cost to produce makes India an ideal market.
Indian jewelry exports grew dramatically during 2010, rising almost 47%. This sector is very important to the Indian economy, contributing 16% to the country's total exports. The growth was primarily driven by exports of polished diamonds, which rose 54%. Exports of gold jewelry and gemstone jewelry also rose. Dubai emerged as the largest export destination for Indian jewelry exports, accounting for 47% of the total exports, followed by Hong Kong with 22% and the US with 11%. This growth rate in exports is the highest it's been in the past three years. This signals a strong bounce-back by India's single largest gem and jewelry export market. While Dubai is a single city in a small country, it has become a major trading hub, and acts as a staging center for exports to Russia, Ukraine and a range of other markets that have high tariff barriers.
This entry was posted on Wednesday, December 7th, 2011 at 10:17 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.