India's overall exports of gems and jewelry shrunk to Rs 18,136.2 crore in November, down by 4.74% compared to last year same month's Rs 19,039.10 crore, while cut and polished diamonds shipments sharply dipped by 25.49% to Rs 8,341.88 crore as against Rs 11,195.52 crore in November 2018. Poor consumer confidence in the export markets is been pointed as reason for the decline.
The overall exports marked a dip of 4.85% at Rs 1,76,540.39 crore during April to November 2019 from last year same period's Rs 1,85,543.57 crore. The Cut and polished diamonds exports in the April-November period also dipped 18.21% to Rs 94,274.13 crore.
However, the gold jewelry export grew by 21.33% in November 2019, to Rs 7,893.89 crore, while during the period of April- November shipments picked up by 6.61% to Rs 59,688.59 crore from last year same period's Rs 55,988.6 crore.
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