India's gems and jewellery exports dropped 24% to $1.5 billion in May 09 over May 08 mainly on account of slump in demand in its major markets like the US and Europe. Exports of cut and polished diamonds were hit badly during the month registering a decline of 30.74 per cent compared to the same period last fiscal, followed by coloured gemstones and gold jewellery shipments which slipped by 25.49 per cent and 11.61 per cent respectively, the figures released by the Gems and Jewellery Export Promotion Council (GJEPC) showed.
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