Indian gem & jewellery exports witness a growth of 11.83% in November

MUMBAI: The rise in gem & jewellery exports in November after a steep fall in October 2022, indicates the predicted resumption in manufacturing activity post the Diwali break. In November 2022, the gem & jewellery exports grew 11.83% to Rs 19855.17 crores (2.05% in dollar terms to $ 2429.86 million) as compared to Rs 17755.28 crores(US$ 2380.97 million) for the same period last year.

For the cumulative fiscal year-to-date period of April – November 2022, the overall gross exports of gems & jewellery witnessed a growth of 8.26% to Rs 208039.06crores (1.29% in dollar terms to US$ 26243.85million) as compared to Rs 192161.85 crores (US$ 25910.10 million) for the same period last year.

Mr. Vipul Shah, Chairman, GJEPC said, “November is usually marked with resumption of manufacturing post the Diwali break that resulted in rise in gem & jewellery exports by 12%. The USA and Hong Kong remained the two biggest pillars of India’s overall gem &jewellery export growth for the period of April to November 2022, accounting for USD 9211.39 million and USD 5781.90 million, respectively. The continuing positive streak of post-CEPA export growth to the UAE was maintained with a rise of 6.86% in April – November. With easing of Covid restrictions in China and the upcoming Chinese New Year, there may be hope on the horizon.”

In November 2022, the overall gross export of Cut & Polished diamonds grew 4.97% to Rs 10202.54 crores (declined 4.17% in dollar terms to US$ 1248.41million) as compared to Rs 9719.72 crores (US$ 1302.78 million) in November 2021.

For the period of April – November 2022, the overall gross exports of Cut & Polished diamonds grew 1.00% to Rs 121602.56crores (fell 5.43% in dollar terms to US$ 15355.09million) as compared to Rs 120395.56 crores (US$ 16236.19 million) for the same period last year.

For November 2022, the total gross export of Gold Jewellery (Plain & Studded) grew 15.93% to Rs 6097.64 crores (5.69% in dollar terms to US$ 746.03million) as compared to Rs 5259.91 crores (US$ 705.83 million) for the same period last year.

For the period of April to November 2022, the provisional gross export of total Gold Jewellery (plain & studded) increased 16.84% to Rs 52288.04crores (9.18% in dollar terms to US$ 6585.35million) as compared to Rs 44752.23 crores (US$ 6031.62 million) for the same period last year.

For November 2022, the total gross export of Plain Gold Jewellery grew 32.11%to Rs 2581.48crores (20.45% in dollar terms to US$ 315.85 million) as compared to Rs 1954.02 crores (US$  US$ 262.23  million) for the same period last year.

In the financial year-to-date (April to November 2022), provisional gross export of Plain Gold Jewellery grew 20.84% to Rs 21824.96crores (12.91% in dollar terms to US$ 2748.56million) as compared to Rs 18060.94 crores (US$ 2434.23 million) for the same period last year.

For the month of November 2022, the total gross export of all kinds of Studded Gold jewellery grew 6.36% to Rs 3516.15 crores (declined 3.03%in dollar terms to US$ 430.18million) as compared to Rs 3305.89 crores (US$ 443.61 million) in November 2021.

For the period of April to November 2022, provisional gross exports of all kinds of Studded Gold jewellery surged 14.13% to Rs 30463.09  crores (6.65% in dollar terms to US$ 3836.79 million) as compared to Rs. 26691.3 crores (US$ 3597.39 million) for the same period last year.

In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds grew 60.08% to Rs 9743.28 crores (49.77% in dollar terms to US$ 1227.77 million) as compared to Rs 6086.59 crores (US$ 819.76 million) for the same period last year.

During April 2022 to November 2022, provisional gross export of coloured gemstones jumped 41.32% to Rs 2091.64 crores(32.20% in dollar terms to US$ 263.86 million) as compared to Rs 1480.11 crores (US$ 199.59 million) for the same period last year.

From April to November 2022, provisional gross export of Silver Jewellery increased 37.98% to Rs 17273.85 crores (29.05% in dollar terms to US$ 2177.62million) as compared to Rs 12518.78 crores (US$ 1687.38 million) for the same period last year.

For the period of April 2022 to November 2022, provisional gross export of Platinum Jewellery grew 28.81% to Rs 198.89 crores (20.09% in dollar terms to US$ 25.02 million) as compared to Rs 154.40 crores (US$ 20.83 million) for same period last year.

Courtesy: Retail Jeweller India News