Gem, jewellery exports fall 10.7% to Rs 22,693.41 crore in May

Gem and jewellery exports stood at Rs 25,412.66 crore (USD 3,285.47 million) during May last year, GJEPC said in monthly data on its website

The overall gems and jewellery exports from India witnessed a decline of 10.70% in May at Rs 22,693.41 crore ($ 2,755.90 million), the Gem Jewellery Export Promotion Council (GJEPC) has said.

Gem and jewellery exports stood at Rs 25,412.66 crore ($ 3,285.47 million) during May last year, GJEPC said in monthly data on its website.

According to GJEPC data, the overall exports of cut and polished diamonds (CPD) showed a decline of 12.17% at Rs 14,190.28 crore ($ 1723.17 million) in May compared to Rs 16,156.04 crore in the corresponding month of 2022. Similarly, the gross exports of polished Lab Grown Diamonds during April-May witnessed a 20.57% fall at Rs 1,985.83 crore ($ 236.08 million) over Rs 2,499.95 crore ($ 325.45 million) in the first two months of the preceding financial year.

However, the total exports of gold jewellery increased by 7.29% at Rs 5,705.32 crore ($ 693.01 million) in May as against Rs 5,317.71 crore ($ 687.18 million) in the year-ago period. Gross export of silver jewellery during April-May decreased by 68.54% at Rs 1,173.25 crore ($ 141.10 million) from Rs 3,728.88 crore ($ 485.42 million) a year ago, the data added.

Courtesy: Moneycontrol