Gems & jewellery exports to decline over 30% in FY18

Major roadblocks are GST levy, overseas trade restrictions

India's gems and jewellery exports is 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 were already visibile 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