India’s overall gross exports of gems and jewellery dipped by 2.05% in October 2019, with growth in the gold jewellery segment making up to an extent for the continued large drop in polished exports, according to provisional data released by the Gem & Jewellery Export Promotion Council (GJEPC).
Cut and polished diamond exports declined by 15.39% year-on-year totalling US$ 1.95 billion during the month (October 2018: US$ 2.30 bn), gold jewellery (plain and studded) exports were up by 12.49% year-on-year touching US$ 1,066.99 million as against US$ 948.51 million in the same month a year ago, the data indicated.
Exports of silver jewellery rose to US$ 176.54 million in October 2019 as compared to US$ 87.09 million in the same month last year.
For the first seven months of the current fiscal, total gross exports of the gems and jewellery industry stood at US$ 22.42 billion as compared to US$ 23.91 billion in the same period of the previous year, a decline of 6.25%. Imports across the sector during first seven months of fiscal 2020 were down 11.10% from US$ 16.12 billion last year to US$ 13.98 billion this year.
In April-October 2019, exports of gold jewellery (both plain and studded) rose by 2.84% to US$ 7.27 bn as against US$ 7.07 bn during the first seven months of the previous fiscal.
Exports of silver jewellery rose steeply to US$ 737.74 million in April-October 2019 from US$ 407.90 mn a year ago.