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Gems And Jewellery Export
India's gems and jewellery exports declined by 30.57 per cent in October to USD 2,168.05 million (Rs 19,172.890 crore) compared to the same period of previous year, according to industry body GJEPC. The overall exports of the sector stood at USD 3,122.52 million (Rs 26,237.1 crore) in October 2024, showed the data released by the Gems and Jewellery Export Promotion Council (GJEPC). "The decline in overall exports in October was mainly due to demand being pushed forward before the US tariff was implemented. Most of the stocking up for the festivals took place before August 27, therefore, in October the demand was down. The decline in gold and silver exports is triggered by volatile bullion prices," GJEPC chairman Kirit Bhansali told PTI. However, he added that in November the exports are expected to pick up again as the Chinese markets are slowly recovering and there will be Christmas demand in other key markets. Exports of cut and polished diamonds witnessed a decline of 26.97 per
Chutes of recovery seen in the Chinese diamond market, which is second only to the US, has sparked optimism among the Indian diamond industry, which could reshape the diamond manufacturing landscape, the Gem and Jewellery Export Promotion Council (GJEPC) officials said. China's economic slowdown coupled with plunging marriage rates in the country created a chilling effect in the Chinese diamond market valued at around USD nine billion. Last year, China's diamond market generated about USD 5.7 billion in revenue, and is expected to grow to USD 7.2 billion by 2030, according to market analysts. The demand for diamonds has fallen by as much as 50 per cent in China, while wholesale diamond prices have fallen by about 40 per cent over the past two years, creating a major downturn in the global diamond industry especially that of India as it accounted for a third of India's cut and polished diamond exports. India's gems and jewellery exports declined by 23.49 per cent in February at USD
The overall gems and jewellery exports declined 10.29 per cent year-on-year to USD 1,967.98 million (Rs 16,719.460 crore) due to geopolitical tensions and a slowdown in demand in China, GJEPC said on Friday. Gems and jewellery exports stood at USD 2,193.82 million (Rs 18,269.7 crore) in December 2023, according to data from industry apex body Gem and Jewellery Export Promotion Council (GJEPC). "The geopolitical tensions continue to affect the overall demand. The slowdown in demand in key export destinations, including China, has also impacted the shipments," GJEPC chairman Vipul Shah told PTI. The overall export of Cut and Polished diamonds (CPD) declined 10.36 per cent to USD 773.1 million (Rs 6,569.7 crores) in December compared to USD 862.48 million (Rs 7,182.53 crores) in the same period of 2023. Exports of Polished Lab Grown Diamonds fell 5.48 per cent to USD 78.93 million (in Rs 670.77 crore) against USD 83.51 million (Rs 695.48 crore) a year ago, according to provisional dat
Gems and jewellery exports saw a decline of 12.94 per cent to USD 1,986.21 million (Rs 16,763.13 crore) in November on prolonged geopolitical tension, Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday. Gems and jewellery exports in November 2023 stood at USD 2,281.4 million, the GJEPC data added. Cut and polished diamonds export in November declined 39.81 per cent to USD 666.01 million compared to USD 1,106.53 million for the same period last year. Provisional exports of polished lab grown diamonds during November declined 42.37 per cent to USD 62.88 million over USD 109.10 million for the previous year. However, the plain gold jewellery exports grew 72.12 per cent to USD 652.81 in November as compared to USD 379.27 million in the same period of the previous year. "Prolonged geopolitical tension continues to remain a matter of concern for the Indian gems and jewellery industry, which has led to a slowdown in exports after seeing an uptick in the previous ...
The Middle East sees emerging opportunities for Indian jewellery exporters with countries like Saudi Arabia and Kuwait showing rising demand for studded gold jewellery, according to the Gem & Jewellery Export Promotion Council (GJEPC). The recent data has revealed a positive trend showcasing substantial growth in regions beyond the traditional strongholds for India's gems and jewellery, like the US and China, GJEPC has claimed. In a statement released here on Tuesday, GJEPC said there are emerging opportunities in the Middle East, with countries like Saudi Arabia (+26.05 per cent) and Kuwait (+87.99 per cent) showing a rising demand for studded gold jewellery. "Saudi Arabia, Kuwait, Bahrain, and Malaysia, in particular, have witnessed increasing exports due to the growing number of buyers from these countries attending the three India International Jewellery Show (IIJS) events -- Premiere, Signature and Tritiya -- in recent times. "The product profile of Indian jewellery is ...
Gems and jewellery exports rebounded in 2021-22 to touch USD 39.15 billion, showing a nearly 55 per cent jump compared to the previous financial year, industry body GJEPC said on Thursday. The gross gems and jewellery exports stood at USD 25.40 billion during 2020-21, the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement. Meanwhile, in March the overall gross gems and jewellery exports went up by 4.33 per cent to USD 3,393.29 million, a decline of 0.46 per cent compared to USD 3,409.07 million for the same period in FY21. "India's exports to global markets bounced back 54 per cent, demonstrating the agility of the Indian G&J pipeline in adjusting quickly to an uncertain business environment marked by temporary Covid lockdowns and unprecedented demand surges," GJEPC chairman Colin Shah said. With annual exports of USD 39.15 billion, the Indian gems and jewellery sector has maintained its promise of contributing a 10th of the country's overall USD 400 billion ...