India's total gem and jewellery exports grow 21.41% in June
Total Indian gem and jewellery exports increased by 21.41% in June, bolstered by swiftly rising exports to the UAE following the recent Comprehensive Economic Partnership Agreement.
Following the implementation of the CEPA with the UAE on May 1, gem and jewellery exports to the country have grown swiftly, the Gem and Jewellery Export Promotion Council announced on its website. The month of May saw Indian gem and jewellery exports to the UAE grow by 72% to total Rs 1,048.4 crore and in June by 68.65% to total Rs 1,451.58 crore.
Key export markets in the US, Hong Kong, Belgium, and Israel also saw strong growth in June. The April to June period saw 14.6% growth in overall gem and jewellery exports. Categories including cut and polished diamonds, gold jewellery, silver jewellery, coloured gemstones and lab grown diamonds all witnessed export growth during the quarter.
“Plain gold jewellery exports have been the immediate beneficiary of the India-UAE CEPA,” said GJEPC chairman Colin Shah, the GJEPC reported. “I would like to thank the Ministry of Commerce & Industry for supporting us with policy that is making a transformative difference and delivering results that are accelerating our momentum towards achieving $75 billion in exports. I urge all exporters to maximise their returns and make optimum use of the benefits available through this pact.”
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