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Gems and jewelry exports decline by 7% during April-August 2019-20

11 Oct 2019 Evaluate

India's gems and jewelry shipments declined by 7% to $12.4 billion during April-August period of 2019-20, compared to last year same period's $13.4 billion. The decline in shipments is mainly due to negative growth in the export of gold jewellery, coloured gem stones, and cut and polished diamonds.

According to data from the Gems and Jewellery Export Promotion Council (GJEPC), the shipment of coloured gem stones has contracted by 10.5%, while cut and polished diamonds exports dipped 19% during April-August. However, exports of gold medallions and coins, and silver jewelry rose by 89.4% and 83%, respectively. 

Besides, imports of rough diamonds have contracted by 25% to $5.4 billion, while gold bar imports dipped about 6.7% to $3.4 billion. Meanwhile, the main exporting destinations of India are the US, Europe, Japan and China. America accounts for about one-fourth of the country's total gems and jewelry exports.