Jewellery Export

Tariff impact: Gems & jewellery shipments to US hardest hit in September

The US accounts for 37 per cent of India's total exports of precious stones and 28 per cent shipments of gold jewellery

GST reforms bring major relief to diamonds and jewellery sector: GJEPC

The Gem and Jewellery Export Promotion Council (GJEPC) on Friday said GST reforms have brought significant relief to the diamonds and jewellery sector. The government's decision to exempt imports of natural cut and polished diamonds up to 25 cents under the Diamond Imprest Authorisation Scheme (DIAS) from IGST (previously 18 per cent) will ease working capital pressures and support manufacturers and exporters engaged in small-diamond processing, it said. In addition, the reduction of GST on jewellery boxes from 12 per cent to 5 per cent will lower costs for retailers and exporters, while making packaging and gifting more affordable for consumers - benefiting both businesses and buyers alike. "These measures will stimulate domestic demand and provide a cushion to our export supply chains, which are under pressure due to global challenges," GJEPC Chairman Kirit Bhansali said. The diamonds and jewellery sector remains committed to ensuring that the benefits, including reduced costs fo

Kalyan Jewellers shares crack 9% despite positive Q1 results; Here's why

Kalyan Jewellers shares saw the steepest fall since January 2025, even after the company reported a 48.73 per cent growth in its Q1 net profit

India's garment and jewellery sectors fear for US orders after tariff shock

Key garment exporters including Welspun Living, Gokaldas Exports, Indo Count and Trident, make 40 per cent-70 per cent of their sales in the United States

Gems, jewellery exports down 15.81% to $2,263 million in May: GJEPC

The overall gems and jewellery exports declined 15.81 per cent to USD 2,263.42 million (Rs 19,260.81 crore) in May compared to the same period of the previous year following tariff announcement by the US, GJEPC said on Tuesday. The industry exports stood at USD 2,688.38 million (Rs 22,414.02 crore) during the same period of 2024, according to Gems and Jewellery Export Promotion Council (GJEPC) data. Exports of cut and polished diamonds declined 35.49 per cent in May to USD 949.70 million (Rs 8,089.81 crore) compared to USD 1,472.08 million (Rs 12,272.03 crores) for the same period of previous year. Meanwhile, exports of polished lab-grown diamonds in May declined 32.76 per cent to USD 80.90 million (Rs 689.71 crore) from USD 120.32 million (Rs 1,003.06 crore) for the previous year. However, gold jewellery exports went up 17.24 per cent to USD 997.50 million (Rs 8,482.61 crore) as compared to USD 850.81 million (Rs 7,094.52 crore) for the same period of previous year. Gross exports

These 2 smallcap stocks hit new highs; zoom up to 82% in two months

Goldiam International has rallied 9% to Rs 569.50 in intraday trade, zooming 82% in 2 months and PGIL has surged 6% to Rs 1,718.05 in intraday trade, soared 71% in two months.

Gold jewellery consumption to grow 14-18% in FY25 in value terms: ICRA

The domestic gold jewellery consumption in value terms is expected to continue its growth momentum in the current financial year and is likely to witness an on-year rise of 14-18 per cent, a report said on Tuesday. Rating agency Icra in a report said in FY25, gold jewellery consumption growth is pegged at 14-18 per cent in value terms, led by favourable realisations. In 2023-24, gold jewellery consumption growth had witnessed a growth of 18 per cent in 2023-24, primarily driven by realisations even as volume growth was subdued. According to the report, while gold prices were volatile, improving consumer sentiments and festive-led demand aided consumption growth in the recent months. Moreover, a sharp 900 bps cut in import duty in the Union Budget in July 2024, and consequent correction in gold prices for a brief period led to some pre-buying of jewellery as well as bars and coins during the second quarter of FY25, which is generally a seasonally weak quarter, it said. This, couple

Govt slashes down drawback rates on exports of gold, silver jewellery

The government has reduced the drawback rates on exports of gold and silver jewellery by more than half to adjust for the significant cut in import duties on these precious metals in the Budget. A notification regarding this was issued by the Department of Revenue. On the export of gold jewellery, the drawback rate has been brought down to Rs 335.5 from Rs 704.1 per gram of net gold content in the article. The rate of silver jewellery and articles of silver have been cut to Rs 4,468 per kilogram of net gold content in an article. The Duty Drawback Scheme refunds import duties and internal taxes, which are paid while importing goods, which are, in turn, used for manufacturing products for exports. In the Budget, the import duty on gold and silver to 6 per cent from 15 per cent. Through this notification, "duty drawback on gold and silver jewellery was reduced as the duty on gold and silver lowered in the budget", Federation of Indian Export Organisations Director General Ajay Sahai

Senco Gold Q3 results: Profit after tax increases 6% at Rs 109.32 crore

Jewellery retailer Senco Gold has reported a 5.8 per cent growth in consolidated profit after tax at Rs 109.32 crore for the quarter ended December 31, 2023. The company's profit after tax (PAT) stood at Rs 103.35 crore during the corresponding quarter of the previous fiscal, the jewellery retailer said in a regulatory filing on Tuesday. The company's revenue from operations grew by 23.3 per cent during the quarter under review at Rs 1,652.20 crore, compared to Rs 1,339.63 crore in the same period of the previous year. "Our consistent performance demonstrates our robust execution capability, operational prudence and financial rigour. We achieved the highest-ever third quarter revenue of Rs 1,652 crore recording quarter-on-quarter (QOQ) growth of 43 per cent and year-on-year (YoY) growth of 23 per cent... "The new showroom launches of 18 so far have also led to investment in working capital out of our internal accruals, IPO funds and incremental borrowing. We thus remain dedicated t

Gem, jewellery exports decline 11.49% to Rs 22,873 cr in Oct: GJEPC data

India's overall gems and jewellery exports declined by 11.49 per cent to Rs 22,873.19 crore (USD 2,748.01 million) in October, according to the Gem and Jewellery Export Promotion Council (GJEPC) data. The gross exports stood at Rs 25,843.84 crore (USD 3,134.85 million) during October 2022, the data showed. Cut and Polished Diamonds (CPD) exports witnessed a fall of 32.70 per cent to Rs 10,495.06 crore (USD 1,260.91 million) in the previous month compared to Rs 15,594.49 crore (USD 1,891.2 million) in the year-ago period. Gross export of polished Lab Grown Diamonds (LGD) in October dropped by 23.01 per cent to Rs 1,135.16 crore (USD 136.38 million) against Rs 1,474.38 crore (USD 178.73 million) in the corresponding month of 2022. "The overall gems and jewellery exports were down in October mainly due to slowdown in demand in key markets like the US and supply constraints of diamond, which constitutes 50 per cent of the total shipments. We are hoping the markets pick up during the ..

Global slowdown may take sheen off gems & jewellery industry in Rajasthan

The overseas demand has also shifted to light-weight stone-studded jewellery, of both precious and non-precious stones

Israel-Palestine conflict not likely to impact gem, jewellery sector: GJEPC

Rising tension between Israel and Palestine is not likely to have any adverse impact on the gem and jewellery industry's exports, GJEPC has said. India has witnessed substantial exports of gem and jewellery to Israel, amounting to USD 1,279.76 million in 2022-23, according to data by the Gem Jewellery Export Promotion Council (GJEPC). It is significant to note that Israel being a very important trading centre exports rough diamonds to the tune of USD 1,782.80 million, it added. "Israel primarily serves as a re-export market. While the ongoing situation in Israel is of grave concern to us, we express our solidarity with the Israeli diamond trade during this hour of crisis for their nation. It is too early to definitively assess the impact and we are keeping a strict watch on the situation. "We have not witnessed any disruption in the regular dealings and believe it is unlikely to significantly impact India's gem and jewellery trade with Israel. Nevertheless, we remain hopeful for a

Electronics export in India grew 56% in Q1, emerge as 4th largest item

Electronics exports grew over 56 per cent in the April-June period, reaching Rs 57,220.24 crore, as against Rs 36,533.18 crore in the corresponding period of last year

Gem, jewellery exports fall by 10.7% to Rs 22,693.41 crore in May

The overall gems and jewellery exports witnessed a decline of 10.70 per cent in May at Rs 22,693.41 crore (USD 2,755.90 million), the Gem Jewellery Export Promotion Council (GJEPC) said on Wednesday. Gem and jewellery exports stood at Rs 25,412.66 crore (USD 3,285.47 million) during May last year, GJEPC said in monthly data on its website. According to GJEPC data, the overall exports of cut and polished diamonds (CPD) showed a decline of 12.17 per cent at Rs 14,190.28 crore (USD 1723.17 million) in May compared to Rs 16,156.04 crore in the corresponding month of 2022. Similarly, the gross exports of polished Lab Grown Diamonds during April-May witnessed a 20.57 per cent fall at Rs 1,985.83 crore (USD 236.08 million) over Rs 2,499.95 crore (USD 325.45 million) in the first two months of preceding financial year. However, the total exports of gold jewellery increased by 7.29 per cent at Rs 5,705.32 crore (USD 693.01 million) in May as against Rs 5,317.71 crore (USD 687.18 million) in

Gems and jewellery exporters feel the heat of govt curbs on gold imports

Amid rising risks to external demand, the government is concerned about widening trade deficit, bringing the focus back on curbing non-essential imports

Rajasthan is making efforts to achieve Rs 1 trn exports target: REPC chief

Rajasthan has traditionally exhibited strength in the export of handicrafts, gems and jewellery, dimensional stones, agro & food, and textile products

Diwali an auspicious date to sign India-UK FTA: British High Commissioner

Currently, both countries are at the last leg of negotiations towards a trade deal that kick-started in January

Surat's polishing industry in for a treat as lab-grown diamonds find favour

Of the roughly 8,000 polishing units in Gujarat city, 15% polish lab-grown diamonds exclusively

Gem, jewellery exports up 45.2% at Rs 31,241.09 crore in Oct: GJEPC

The overall sentiment in the gem and jewellery industry is quite positive

Reforms in jewellery sector to help achieve $ 43.75 bn export target: Patel

Introduction of reforms for the gems and jewellery industry would help push its growth rate and achieve $43.75 billion exports target for this fiscal year, Union Minister Anupriya Patel said.