Gem, jewellery exports dip 17% in November

India’s gem and jewellery exports in November fell 17 per cent from a year ago to Rs 4,900 crore, even though exports in April-November rose 9 per cent to

Rs 60,100 crore, according to the data released by the Gem and Jewellery Export Promotion Council (GJEPC).

The fall in November exports was due to global economic crisis, GJEPC said.

In the dollar terms, exports in November fell over 34 per cent to $987 million, GJEPC said. Cut and polished diamond exports in November dropped nearly 32 per cent to over Rs 2,500 crore. In dollar terms, they fell 46 per cent to $510 million, the data showed.

Gold jewellery exports, however, rose marginally by 5 per cent to nearly Rs 2,000 crore. But, in dollar terms, it fell 17 per cent to $397 million.

With the decline in the gem and jewellery exports in the current economic turmoil it is almost certain that the industry may not be able to achieve its export target of $24 billion (Rs 120,00 crore) for the current financial year.