Exports of gems and jewelery declined by 34.72 per cent in June

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(Commercial Representative) Mumbai, Ta. 14 July 2020, Tuesday

India's gem and jewelery exports fell 4.5 per cent to ૬૪ 1.7 billion (Rs 12.5 crore) in June 2020. Figures from The Gems and Jewelery Export Promotion Council (GJEPC) show a sharp decline in demand due to the Kovid-12 epidemic. In June last year, exports stood at 4.5 billion (Rs 12,31 crore).

Colin Shah, chairman of the GJEPC, said exports were declining due to slowing global economic growth and the Koro epidemic, which led to declining demand in many countries. However demand is increasing in China, Europe and Australia. Between April and June 2020, exports fell 4.6 per cent to 2.7 billion. It was 3.06 billion in the same period last year.

The decline in exports has been mainly due to the negative growth in exports of gold jewelers and colored gemstones.

Exports of gold jewelers fell 3% to ૩૨ 2.12 billion in the first quarter of 2020-21. Similarly, exports of colored gemstones also declined by 20.5 per cent.

But silver jewelery exports rose to ૩૨ 25 million during the period, from 127 million.

Rough diamond imports fell 2.4 per cent to ડો 215 million in the first quarter. The newly-appointed chairman of GJEPC said the focus would be on promoting business facilitation for the sector as it would boost both manufacturing and exports.


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