India's Exports Grow to $16 Billion: Suppliers Plan Vegas Gala

April 21, 2005

India's Exports Grow to $16 Billion: Suppliers Plan Vegas Gala

The Gem & Jewellery Export Promotion Council of India reports its diamond and jewelry exports for the fiscal year ended March 31 were nearly $15.7 billion, greater than the predicted total of $13.3 billion. The almost 30% growth over last year makes possible the council's revised target of $20 billion in export sales by 2007 (it formerly set the target at $16 billion). Exports of cut and polished diamonds were up from the previous year almost 30% to over $11 billion. Colored gem exports were up 8% to $192 million. Jewelry exports were up a whopping 42% to $3.8 billion.

In other news, the Indian Diamond and Colorstone Association in America will celebrate its 21st Annual Gala Awards Night June 4 at Caesars Palace in Las Vegas during the JCK-Las Vegas Show. IDCA will be honoring Jewelry Television™ by ACN as "Retailer of the Year." Jerry Sisk, senior vice president, will accept this award. Jewelry Television is the only network that focuses exclusively on the sale of fine jewelry and gemstones with revenues jumping dramatically over the past six years from $45.2 million in 1997 to $325 million in 2004. The live programming is unscripted, but with knowledgeable hosts presenting product information on an array of jewelry, loose gemstones, castings and jewelry-making tools.

The "Doyenne of the Year Award" will be presented to Anna Martin, senior vice president and regional manager, ABN AMRO International Diamond and Jewelry Group. Martin also is governor and League of Honor sovereign of the Gemological Institute of America, member of the board of directors of the Jewelers Board of Trade and serves on the boards of Jewelers For Children and the Women's Jewelry Association, where she is also president.

The keynote speaker for the evening will be William E. Boyajian, president of GIA.

IDCA will host an event called "Dazzle with Diamonds," which will feature a performance by a group of dancers and live musicians. This unique performance based on the concept of Navratna , or nine gems, with the diamond as the central energy. It is written and produced for IDCA.

Admission to the event is by invitation only. Please contact the IDCA office at (212) 921-4488 for further information.

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