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Exports of gold jewellery from India crossed US $ one billion in five months (April-August) of the current financial year 2004-2005, having increased by a record 141 % to reach a figure of US $ 1007.14 million ( i.e., $ I billion ) as against US $ 416.96 million worth of exports during the corresponding period of the last financial year 2003-2004. This was indicated by Shri Kamal Nath, Minister of Commerce and Industry, at the inauguration of India’s largest gold and jewellery show – “Festival of Gold 2004” – here today. The Festival, which will be on for a week (18-24,2004), is being organised by MMTC Limited, India’s leading bullion trader and a Government of India enterprise. Shri S.D. Kapoor, Chairman and Managing Director, MMTC, was present along with senior officials of the Ministry of Commerce and Industry and MMTC, besides the Bollywood actress, Ms. Dia Mirza, who displayed some of the most vibrant and scintillating creations. The varieties of gold and precious stone jewellery at the exhibition, the seventh in the series, are all hallmarked and certified for purity by MMTC.
Shri S. D. Kapoor said that “the forum provided by the company is a tribute to the famed artisans from different parts of the country with the sole objective of reaching their craft to the customers with the guarantee of purity and trust from MMTC”.
The Indian jewellery market is growing at the rate of 15 to 20 % each year. Timed in sync with the festive season, the Festival of Gold is an exciting opportunity for traders and consumers alike to transact in a large range of precious stones and semi-precious jewellery, hallmarked for quality and purity. The exhibition is being supported by the World Gold Council (WGC).
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