GJEPC Views on Union Budget 2013-14

Vipul Shah, Chairman, GJEPC says that the Union Budget did not highlight much on measures for the gem and jewellery industry. But, the Import Export Policy to be revealed in one month's time may prove fruitful for the industry.

Post By : IJ News Service On 28 February 2013 3:04 PM
In May 2009, polished diamond exports from Belgium took a dip of 40 percent in May and amounted to $662.42 million, while in volume terms they fell 24 percent to 605,611.08 carats. Import of polished diamonds also slipped down by 48 percent to $506.86 million. Overall, the the net polished exports (polished exports less imports) saw a 28 percent increase amounting to $155.57 million. %% maximum of Belgium’s polished exports were received by the U.S. although the exports to the U.S. declined by 39 percent and valued at $253.83 million. Belgium’s exports to Hong Kong were down by 13 percent to $86.47 million, to Israel by 54 percent to $74 million and to Switzerland they fell by 69 percent to $26.9 million. %% The rough diamond account also saw a decline in imports by 58 percent amounting to $406.26 million. In volume terms, the imports were down by 43 percent and amounted to 5.3 million carats. Exports of rough diamonds dipped by 48 percent to $564.58 million and the net rough imports (rough imports less exports) slipped down by 22 percent to $158.32 million deficit. The country’s net diamond account increased by 24 percent to $313.89 million.

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