By Avi Krawitz Posted: 04/06/08 07:27
RAPAPORT... India's gem and jewelry products were the main catalyst for the sharp rise in exports from the Cochin Special Economic Zone (CSEZ) in the year ending March 31, 2008.
The CSEZ’s export earnings more than tripled to INR 4,652 crore ($1.16 billion) in the fiscal year 2007-08, from INR 1,037.52 ($259.54 million) the previous year.
According to local media reports, CSEZ Development Commissioner C J Mathew said gem and jewelry exports accounted for approximately 77 percent of the total at INR 3,600 ($900.56 million.)
The CSEZ, which initially emphasized areas such as rubber and rubber products exports and electronics hardware, is designed to facilitate foreign direct investment and is run by the government of India.
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