Editor’s Note
Jaipur’s gem and jewellery export sector faces a sustained downturn, with coloured gemstone shipments falling 23.32% year-on-year in May 2024. This persistent decline highlights ongoing challenges for a key regional industry.
The decline in gem and jewellery exports from Jaipur continues. The downward trend is also persistent in the export of colored gemstones. In May, exports of colored gemstones fell by 23.32%. Compared to ₹417.31 crores in May 2023, colored gemstone exports in May 2024 stood at ₹319.98 crores.
Jaipur’s jewellers have the largest share in the country’s colored gemstone exports. In the combined period of April-May 2024, colored gemstone exports saw a decline of 27.99%. In dollar terms, this decline is reported to be 24.26% and 29.02% respectively.
In May, overall gem and jewellery exports decreased by 4.97%. This revelation comes from data released by the Gem & Jewellery Export Promotion Council. Exports of cut and polished diamonds and polished lab-grown diamonds also saw a decline.
In May 2024, the total export of gems and jewellery from India was valued at ₹20,713.37 crores. In May 2023, India had exported gems and jewellery worth ₹21,795.65 crores. Thus, gem and jewellery exports saw a 4.97% decrease. In dollar terms, gem and jewellery exports fell by 6.14%.
