India's gems and jewellery exports grew by nearly 38 percent in 2004, the industry said in a statement released Wednesday. During January-December 2004, the total exports of the sector totalled 14.3 billion dollars as compared to 10.3 billion dollars the previous year - a growth of 37.88 percent, the Gem and Jewellery Export Promotion Council said. "The industry has shown a very impressive growth and is moving in the right direction," said council chairman Bakul Mehta.
"We are confident that we would surpass the set target of 16 billion dollars by 2007 and are hopeful that this growth rate shall continue."
Exports of cut and polished diamonds last year stood at 10.3 billion dollars posting a growth of 28.42 percent while the export of coloured gemstones showed a growth of more than three percent, the statement said.