Gems and jewellery exports from the country are expected to register a growth of at least 5 percent year on year in the current financial year, said the Gem and Jewellery Export Promotion Council (GJEPC).

"It is too early to say but we are expecting a growth of 5 percent this fiscal...its a minimum that we are expecting we may end up with double digit growth," GJEPC Chairman Vasant Mehta told a news agency in an interview.
 
Commenting on the exports growth witnessed by the sector in 2009/10, which was 16 percent to USD 28,414.64 million compared to the previous fiscal, he said that it was strictly due to a low base because of the recessionary period.

In April, the first month of the fiscal 2010-11, exports of gems and jewellery items expanded by 95 percent to $ 2.56 billion over the year ago period, mainly due to rising demand in the US and UAE markets.

In May again, exports from the sector rose by 31.24 percent to USD 2.46 billion on the back of jump in shipments of cut and polished diamonds.