India's gems, jewellery exports fall 7% to $12.4 billion in Apr-Aug
Commodity Online | October 11 2019
UPDATED 12:57:26 IST

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Gems and jewellery exports have declined 7% to $12.4 billion during April-August 2019-20 on account of slowdown in demand in major developed markets, according to data from the Gems and Jewellery Export Promotion Council (GJEPC).

The value of exports stood at $13.4 billion in the year-ago period.

The decline in shipments is mainly due to negative growth in the export of gold jewellery, coloured gem stones, and cut and polished diamonds.

As per the data, export of coloured gem stones, and cut and polished diamonds during April-August 2019-20 contracted by 10.5% and 19%, respectively.

However, exports of gold medallions and coins, and silver jewellery have recorded a growth of 89.4% and 83%, respectively.

India's main export destinations are the US, Europe, Japan and China. America accounts for about one-fourth of the country's total gems and jewellery exports.

According to the data of the Council, imports of rough diamonds contracted 25 per cent to $5.4 billion, while that of gold bar by 6.7% to $3.4 billion.