India’s gems, jewellery export grows by six percent in December to $2.49 billion

By

Maverick Martins

Published
Jan 15, 2021

The gems and jewellery exports from the country witnessed a six percent growth to $2.49 billion (Rs 18,199 crore) during December 2020, as compared to $2.35 billion in the corresponding month of 2019.
 

However, the overall gross exports of the sector during the April-December period remained down by 40 percent to $16.5 billion, as against $27.5 billion during the same period last year.
 
“Exports have recovered sharply in the last two months and if the trend continues the decline in this fiscal year may narrow down to 20-25 percent. In the early months of the fiscal, the sector was down by over 80 percent," Gem Jewellery Export Promotion Council (GJEPC) chairman, Colin Shah, told PTI.

Cut and Polished Diamond (CPD) exports in December 2020 posted a sharp jump by 38 percent to $1.74 billion, while gold jewellery exports for the month under review was lower by 35 percent to  $0.5 billion compared to $0.77 billion in December 2019.
 
The Indian gem and jewellery industry is one of the leading exporters in the world, significantly contributing to the GDP of the country and employing around 5 million people.