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Friday, March 30, 2012 - 5.46 GMT
Gem & jewelry industry targets one billion USD revenue by 2016


The gem, diamond and jewellery sector has secured an over all growth of 46 percent as at February 29, 2012 earning a revenue of Rs 10,851 million in comparison with the corresponding figure of Rs 7,449 million in 2011.

The export of fine gemstones brought in revenue of Rs 2,379 million recording a 43 percent growth while jewellery exports generated revenue of Rs 463 million recording an impressive 48 percent growth.

The service cutting industry showed signs of recovery by recoding Rs 46 million incomes with a 40 percent growth.

Blue Sapphire boasted the pride of place by heading the variety list as always, proving yet again that Sri Lanka is the principal source for fine quality natural Blue Sapphires. In the year 2011 Sri Lanka was successful in exporting 330,318 carts of Blue sapphire to the value of USD 53.20 Mn.

National Gem and Jewellery Authority (NGJA) attributed the industry’s strong performance to the dynamism, flexibility and determination of the Stake holders of the gem and jewellery industry and proactive business friendly policies of the government.

The feed back we are getting from traders who are exhibiting at the Basel World-2012; which is considered as the most prestigious event in Europe is very encouraging, said Chairman of National Gem and Jewellery Authority Prasad Galhena. The European buyers are showing a keen interest on fine quality blue sapphires of large sizes, he added.

In its export market promotion programme this year the National Gem and Jewellery Authority (NGJA) intends to organize Sri Lankan Pavilions in the International Gem and Jewellery events including Jewellery Shanghai Show in May, Hyderabad Jewellery, Perl and Gem Fair in June, Singapore International Jewellery in July, Hongkong International Jewellery Show in September, Malaysia International Jewelex in October, China International Jewllery Show (Beijing) in November and China International Gold, Jewllery and Gem Fair (Shanghai) in December.

The sector continues its growth momentum and progressing towards becoming a one billion dollar industry by 2016 with plans to sustain the existing markets while focusing on emerging markets," the Chairman said.






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Last modified: March 30, 2012.

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