Europe Flight Delays Hit India Exports

Mumbai: India's gem and jewelry exports to the key European markets of Belgium and the U.K. have been affected by flight disruptions over the past few days as planes remain grounded following a volcanic eruption in Iceland.
A passenger waits for flights to resume at Narita International Airport, in suburban Tokyo on April 19, 2010.
"We're finding it difficult to transport our goods, there has been a backlog of goods to these places," Vasant Mehta, chairman of the Gem & Jewellery Export Promotion Council, told Dow Jones Newswires.
Most of northern Europe was last Thursday covered by a cloud of ash from the Eyjafjallajokull volcano in Iceland, leading to thousands of flight cancellations. Experts say it will take some days for the ash to clear.
Mr. Mehta added that exports to the U.S., the main market for Indian jewelry, have progressed as normal as goods are transported through a different route.
India's gem and jewelry exports rose 16% to $28.41 billion in the last fiscal year to March 31.
Harmesh Arora, vice president of the Bombay Bullion Association, added that India's gold stocks remain sufficient as flight disruptions have had little impact on imports.
20/04/10 Swansy Afonso/Wall Street Journal

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Categories: Cargo Apr 2010, Foreign Apr 2010, Indian Aviation- In General Apr 2010