Gems and jewellery export in August crosses pre-pandemic level
During April-August 2021, the overall gross exports of gems and jewellery witnessed a growth of 13.17% to Rs. 11,6503.64 crore as compared to Rs 10,2949.34 crore during April-August 2019.
Colin Shah, Chairman, GJEPC, said, “So far FY22 has been showing a healthy recovery. Thanks to the gradual opening of the markets, the removal of entry restrictions, and the forthcoming festive season, India’s gem and jewellery exports will witness consistent growth in the near future.”
Cut and polished diamond exports have registered a growth of 29.37% to Rs 15083.33 crore in August 2021 as compared to Rs 11,659.46 crore in August 2019.
During April-August 2021, cut and polished diamond exports grew 33.17% to Rs 77,473.56 crore as compared to Rs 58,175.38 crore during April-August 2019.
“Strong demand in the USA, China and several European countries along with sustained consumer interest in diamond jewellery are some of the factors for the positive export growth of cut and polished diamonds,” said Shah.
However, exports of gold jewellery declined to 15.06 per cent in August to Rs 5756.54 crores as compared to Rs. 6777.50 crore in August 2019. During April-August 2021, plain and studded gold jewellery exports declined 30.39% to Rs 23,715.67 crore as compared to Rs 34,071.33 crore for the same period in 2019.
In April-August 2021, plain gold jewellery exports dropped 66.82% to Rs.8468.43 crore as compared to Rs 25,526.18 crore during April-August 2019.
Fiscal year-to-date studded gold jewellery exports shot up 78.43% to Rs.15247.24 crore as compared to Rs 8545.15 crore during the same period of 2019.
From April-August 2021 silver Jewellery exports zoomed to 169.62% to Rs 7866.04 crore as compared to Rs. 2917.44 crore (US$ 417.80 million) in April-August 2019. “The positive export growth was boosted by the exports of silver jewellery studded with precious metals (diamonds) from the SEZs,” added Shah.
Coloured gemstone exports in the fiscal year-to-date declined 9.14% to Rs. 828.76 crore compared to Rs 912.11 crore recorded in the corresponding period in 2019.