Gems, jewellery exports down 39 percent to Rs 13,745 crore in March

By

Maverick Martins

Published
May 18, 2020

India’s gems and jewellery exports in March declined 39 percent to Rs 13,745 crore ($1.81 billion) due to poor demand from importing countries amid the Covid-19 pandemic.
 

The exports of cut and polished diamonds (CPD) in March dipped by 45 percent in March to Rs 7,101 crore, while gold jewellery exports for the month was Rs 4,152 crore.
 
The total gems and jewellery exports for the year 2019-20 was down 9 percent to Rs 2,51,096 crore, compared to Rs 2,75,672 crore in 2018-19, according to data from the Gem and Jewellery Export Promotion Council (GJEPC).

“The performance numbers reflect the weak demand for gems and jewellery across the globe and the Covid-19 pandemic has cast further gloom. Given the potential, the industry needs urgent government attention and a special package to handhold exporters in these difficult times besides reviving sentiments,” GJEPC vice-chairman, Colin Shah, said in a statement.
 
The fall in gems and jewellery exports has been happening over some time due to the global economic slowdown coupled with the industry struggling with the credit crunch and customs issues.
 
The gems and jewellery sector in India has sought government relief to help them survive during this crisis.