Gems and jewellery exports down 7% in H1 of FY18 due to GST, gold policy

The G&J segment's share of India's overall merchandise exports is about 13%

There has been a sharp decline in orders from Japan and Europe this year for India's gems and jewellery.

Data compiled by the Gems and Jewellery Export Promotion Council (GJEPC) says G&J net export declined 7.4 per cent to $16.8 billion in April-September, the first six months of this financial year, from $18.2 bn in the comparable period last year. The decline in rupee terms was 10.9 per cent, at Rs 1.08 lakh crore.

The segment contributes nearly 13 per cent of India's overall merchandise exports.

Exporters attribute the fall to a slowdown in production ahead of the goods and services tax (GST)