Gem and jewellery export down 7.6% to Rs 1.3 trillion in first half

Industry unable to take advantage of opportunity provided by US-China trade war

Gloomy news continues at the gem and jewellery sector, with the industry not having gained from the US-China trade war. 

In the first half (April-September) of this financial year, gross export in the segment fell by 7.6 per cent to $18.9 billion (Rs 1.3 trillion). The scene is looking good for Christmas demand from the important US market, which is still better than other markets. However, the industry is not able to reap the benefit due to several issues, including the marked reluctance of banks to lend to it since the Nirav Modi scandal. The result is blockage of working