Gems & jewellery industry in turmoil as exports fall sharply in August

Gold jewellery exports to the US in August increased 5.58 per cent to $910.87 mn

The gems and jewellery industry has entered a state of turmoil with the fall in exports increasing month after month. After an over 11 per cent fall in July, overall gross exports of gems and jewellery declined 14.44 per cent to $28.84 billion in August. The Gem and Jewellery Export Promotions Council’s (GJEPC) provisional data shows that during the current financial year, total gross exports have declined 8.92 per cent to $15.33bn.

However, Council's officials said that with exports to the US reviving in August, enquiries have started coming in from US and European customers and the industry is eyeing