Jewellery exports hit Rs. 627 m in five months

by Elmo Leonard

Aided by the recent removal of 15 percent VAT on imports of gems and gold into Sri Lanka, the island's jewellery exports, for the first five months of 2006, reached Rs. 627.31 million from Rs. 459.67 million during January-May of 2005. Concurrently, its exports of gems during January-May 2006, vaulted to Rs. 4.48 billion ($43.5 million) from Rs. 3.4 billion ($34.1 million) for the corresponding five months of 2005, chairman National Gem and Jewellery Authority (NGJA) Hasitha Tillekeratne told the media.

Imports of rough stones for re export, for the first five months of 2006, amounted to Rs. 205.62 million, from Rs. 144.58 million during the corresponding months of 2005, according to NGJA statistics.

Exports of geuda dropped for the first five months of 2006, in review, to Rs. 77.74 million, from Rs. 93.86 million in the corresponding months of 2005, which augurs well, for the island; geudas could be value added by local industrialists.

Exports of diamonds (cut in Sri Lanka) in the first five months 2006 were Rs. 11.80 billion, from Rs. 11.18 billion during January-May, 2005.

Diamond Jewellery exports reached Rs. 281.81 million from Rs. 130.422 million during the first five months of 2005.

In this backdrop, Sri Lanka's 16th annual International Gem and Jewellery Show, FACETS 2006 will be held from September 6-9 with all 150 stalls sold out. Accommodating expansion, FACETS 2006, goes to its second year at the BMICH Exhibition and Convention Centre, Colombo. FACETS 2006, is themed "Gemstones direct from the source...." FACETS is being marketed internationally, more so, in India, Thailand and Europe.

Sri Lanka Gem and Jewellery Association (SLGJA's) Macky Hashim and Juzar Adamally returned from the recent 'Refreshingly Sri Lanka Show' in London. Stemming from such a promotion, India, the largest exporter of cut stones ($17 billion turnover) is looking Sri Lanka's way for coloured precious stones for its jewellery and other output.

An Association of Indian gem dealers have been too late for entry into FACETS 06, FACETS treasurer, Akram Mansoor said. India, facing a shortfall of lapidarists, will have its industrialists visit the September show, intent on subcontracts and joint ventures, to fill the void, chairman of the FACETS organising committee, Macky Hashim said.

Sri Lanka is the world's richest treasure trove of coloured precious stones, with over 75 of 200 known mineral varieties. The better known, are, Sapphires, Rubies, Alexandrites, Cats-eyes, Padparadscha, Amethysts, Topaz, Zicons, Tourmaline, Garnets and Moonstones.

FACETS 2006 will include foreign exhibitors from Singapore, Dubai, Thailand, India, Hong Kong and Myanmar. Hundreds of buyers including some of the best known in the gem and jewellery business from the developed world are expected. The first 100 delegates will be afforded two nights accommodation, free.

The exhibition mode will comprise, Hall A, exclusively for 'Made in Lanka' jewellery, depicting craftsmanship and latest designs. The Gemmologists Association of Sri Lanka and the Gem and Jewellery Institute will showcase their educational activities and SLGJA will exhibit their lapidary skills, while the Gem Miners' Association of Sri Lanka, will be afforded the opportunity to display a section of rough gems, chairman, NGJA, Hasitha Tillekeratne said.

The island's top models are expected to take the catwalk, bedecked with Sri Lanka's gems and jewellery.