India’s gems, jewellery exports surge by 92 percent to Rs 20,851 crore in June
India’s overall gems and jewellery exports rose by 92 percent in June to Rs 20,851 crore ($2,863.76 million), as against Rs 10,838.93 crore in June 2020, according to data shared by the Gem and Jewellery Export Promotion Council (GJEPC).
The overall gross export of cut and polished diamonds in June was Rs 14,512 crore while the total export of gold jewellery was Rs 4,185 crore.
For the April-June quarter, the gems and jewellery exports witnessed 255 percent growth at Rs 67,266 crore, as compared to Rs 18,962 crore in the same quarter of last fiscal year.
Commenting on the June exports, GJEPC chairman Colin Shah in a statement said: “Growth in exports is mainly due to the revived import demand in the leading export market of USA and the fulfilment of orders received by numerous Indian exhibitors during the Virtual Buyer-Seller Meets (VBSMs) conducted by the Council.”
“Revival of demand for studded jewellery products and re-stocking the inventory levels majorly attributed to the swift recovery of exports of cut and polished diamonds as well as studded jewellery,” Shah added.
Following a significant drop in business during lockdown last year, many jewellery businesses are beginning to recover thanks to several trade shows starting up again. The upcoming spring wedding season is also expected to boost business.
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