Gems & Jewellery Exports

The gem and jewellery exports declined 14.64 per cent in October at Rs 25,843.84 crore due to seasonal trend as manufacturing activities are limited or closed during Diwali, GJEPC said on Saturday. In October 2021, the exports stood at Rs 30,274.64 crore, the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement. India's robust gem and jewellery export performance in the first 6 months of 2022-23 helped maintain growth for the period April-October, despite a sharp dip in exports last month, GJEPC noted. The decline in exports in October or November is a seasonal trend as manufacturing activities are either limited or units are closed because of Diwali, it stated. We had witnessed the usual pre-Diwali buzz as factories in India rushed to complete export orders in time for Thanksgiving and Christmas. The temporary closure of units, and absence of workers during Diwali usually results in a decline in exports post Diwali," GJEPC Chairman Vipul Shah said. The upcoming

Shipments decline by over 3% as high import duty on polished diamond adds to list of impediments; no improvement in situation seen in current fiscal

In FY18-19, weak silver jewellery and gold coins exports slowed sector's growth to only 2%

Seasonal demand has caused exports turnaround in November, after falling over 13% during April-October

India's main export destinations are Europe, Japan, China and the US

India's gems and jewellery exports are likely to decline by a staggering 30 per cent in the financial year 2017-18 due to unfavourable government regulations and trade restriction from the Gulf countries.The signals of the steep decline in exports have already seen in July with over 26 per cent fall in India's gems and jewellery shipment. The Gems and Jewellery Export Promotion Council (GJEPC) data shows 26.21 per cent slump in India's net exports of the precious metal's jewellery and stones to $1894.58 million in July 2017. Gold jewellery exports have declined by a staggering 31.67 per cent (worth $411.37 million) in dollar term and 34.47 per cent (valued Rs 2651.70 crore) in July 2017 compared to their respective categories in the corresponding month of last year. Indian exporters were using UAE not only as a trading hub but also a re-packaging centre for re-routing of jewellery to the developed countries including the European Union.Contributing around 13 per cent to India's ...