India’s gems and jewellery exports contracted by 4.65% and stood at $25 billion during April-December this fiscal owing to demand slowdown in major markets, including the US. The drop in shipments is mainly due to negative growth in the export of gold jewellery and gold medallions and coins. According to the Gems and Jewellery Export Promotion Council (GJEPC) data, the exports stood at $26.1 billion in the same period last year.
The shipment of gold jewellery dipped by 4% and stood at $7 billion during April- December 2017-18, while the export of gold medallions and coins contracted by about 55% during the same period.
However, silver jewellery exports went up 16.28% and stood at $3.11 billion during the nine-month period of the current fiscal. Shipments of cut and polished diamonds reported a growth of just 1.85%.