Indian gem and jewellery exports bounce back in December; grow 29 percent to $3.04 billion vs Dec 2019

MUMBAI: The Indian industry is back on a roll immediately after the October festive break. Gem and jewellery exports in December 2021 reaffirm this with a growth of 29.49% to US$ 3040.92 million (+37.11% in rupee terms to Rs. 22914.630 crores) as compared to as compared to US$ 2348.44 million (Rs. 16712.46 crores) for the same period 2019 – the pre-pandemic year.  

The overall gem and jewellery exports from April 2021 to December 2021, grew 5.76% to US$ 29084.0 million (+11.61% in rupee terms to Rs. 216072.56 crores) as compared to compared to US$ 27500.85 million (Rs. 193587.67 crores) for the same period in 2019.  

Colin Shah, Chairman, GJEPC, said, “India’s performance in the crucial Christmas quarter capped a spectacular year for the gem and jewellery industry. The Holiday bounce has managed to offset part of the post-Diwali export slump when factories normally take a short break. Holiday and festive demand was robust in important trading centres such as the USA, Hong Kong, Thailand, and Israel. And we have every reason to believe that this momentum will carry through the end of FY 2022, bringing us closer to the set target of USD 41.67 billion in exports.” 

Cut & Polished Diamond exports in December 2021 grew by 41% to US$ 1770.61 million (+49.48% in rupee terms to Rs. 13341.66 crores) as compared to US$ 1253.79 million (Rs. 8925.25 crores) for the same period of 2019.   

Cut & Polished Diamond exports in April 2021 to December 2021 grew by 23% to US$ 18007.24 million (+30% in rupee terms to Rs. 133740.56 crores) as compared to US$ 14666.23 million (Rs. 103224.09 crores) for the same period in 2019.  

Gold exports in December stayed flat (+0.35%) to US$ 778.04 million (+6.36% in rupee terms to Rs. 5868.38 crores) as compared to USD 775.36 million (Rs. 5517.53 crores) for the same period of 2019.  

Gold Jewellery exports from April 2021 to December 2021 declined 25.41% to US$ 6915.21 million (-21.27% in rupee terms to Rs. 51410.6 crores) as compared to US$ 9270.94 million (Rs. 65300.93 crores) for the same period in 2019.  

Exports of Plain Gold jewellery for the period of April 2021 to Dec 2021 declined by 57.47% to US$ 2830.84 million (-55.08% in rupee terms to Rs. 21048.88 crores) as compared to US$ 6655.84 million (Rs. 46858.50 crores for the same period of 2019.  

Studded Gold jewellery exports for the period April 2021 to December 2021 grew by 56% to US$ 4084.37 million (+64.63% in rupee terms to Rs. 30361.72 crores) as compared to US$ 2615.09 million (Rs. 18442.44 crores) for the same period of 2019.   

Silver jewellery exports for the period April 2021 to December 2021 grew by 94% to US$ 1965.51 million (+104.10% in rupee terms to Rs. 14612.02 crores) as compared to US$ 1013.56 million (Rs. 7159.41 crores) for the same period of 2019.  

Coloured Gemstone exports for the period April 2021 – December 2021 declined by 10.03% to US$ 222.52 million (-5.24% in rupee terms to Rs. 1652.91 crores) as compared to US$ 247.34 million (Rs. 1744.32 crores) for the same period in 2019. 

Courtesy: Retail Jeweller India News