Editor’s Note
India’s gems and jewellery sector showed robust performance in November, with exports rising nearly 20% year-on-year to $2.5 billion, according to industry data. This marks a significant uptick from the $2.1 billion recorded in the same period last year.
India’s gems and jewellery exports grew 19.64 per cent to USD 2.5 billion in November compared to the same month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC). Total exports stood at USD 2.1 billion during the corresponding month of the previous year.
The overall gross export of Cut & Polished diamonds was at USD 919.74 million in November as compared to USD 666.34 million in the same period of the previous year. Provisional gross export of Polished Lab Grown Diamonds witnessed a 10.55 per cent rise in November at USD 76.09 million over USD 68.83 million a year ago.
Meanwhile, volatile prices affected gold jewellery exports which were flat at USD 1.21 billion in November against USD 1.23 billion a year ago. Studded gold jewellery shipments surged to USD 828.89 million last month from USD 555.39 million a year ago due to high demand for job works. Exports of silver jewellery surged to USD 197.97 million from USD 63.99 million.
He added that silver exports had suffered in the previous months due to shortage of the bullion, however, with the supply chain restored the shipments surged.
The overall exports of gems and jewellery were flat at USD 18.86 billion during the April-November period as compared to USD 18.85 billion in the same period of last year.