The Gem and Jewellery Export Promotion Council (GJEPC) in its latest report has said that India's overall gems and jewellery exports surged by 92.37 percent in June to Rs 20,851.28 crore ($2,863.76 million) compared to the same month of 2020. The gross export in June 2020 stood at Rs 10,838.93 crore ($1,430.68). The overall gross export of cut and polished diamonds went up by 113.25 percent in June to Rs 14,512.11 crore ($2000.48 million) compared to Rs 6,805.25 crore ($898.30 million) in the corresponding month last year.
The total export of gold jewellery surged by 398.70 percent Rs 4,185.10 crore ($570.05 million) in June compared to Rs 839.21 crore ($110.79 million) in June 2020. Meanwhile, the overall gems and jewellery exports witnessed 254.75 percent growth during the April-June quarter of this financial year at Rs 67,265.66 crore ($9,182.38 million) as compared to Rs 18,961.63 crore ($2,504.58 million) in the same quarter of FY21.
GJEPC chairman Colin Shah 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. Shah added 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 jeweller,.