Rate of contraction in gems and jewellery exports slows down in June

Though the June figure compares poorly YoY, it's much better than April and May

Gems and jewellery exports showed signs of revival in June after two months of bleak business during the lockdown.

Even as at $1,647.49 million, the exports in June 2020 were 34.72 per cent less than $2,523.74 million reported a year ago, this figure was much better than that in May ($570 million) and April (said to be much lower, though the data has not been released).

According to the preliminary data provided by the Gem and Jewellery Export Promotion Council (GJPEC), exports of gems and jewellery declined 54.79 per cent YoY to $ 2.75 billion during the April-June period.

Import of rough diamonds,