US Demand Rising for Indian Jewellery
US have been one of the prominent markets for India's gem and jewellery industry with about 50 percent of our jewellery being exported to their markets. Just before the festive season of Christmas start ringing bells, good news for all the Indian Jewellery Exporters has started pouring in with the increase in demand for our jewellery in US markets. However, an industry official reported that though the early sales have improved by seven percent, the volume of the sales is expected to remain low. This increase is mainly noted in value terms and not in volume terms. The official further confirmed that the increase in value has been mainly observed owing to the depreciation of Rupee value against the dollar, following to which consumers are more inclined to invest in the Gold and Silver. As per industry reports, Diamond and Jewellery Exports of India in the financial year 2010-2011 amounted to Rs 58,668 crore. It is being speculated that the sales value of the jewellery industry will report higher numbers as compared to the last year. The industry has been growing comfortably at a rate of 20 to 25 percentages. The considerable increase in the prices of gold and diamond, over a past few years, has been significantly contributing to this growth.