Gem & Jewellery exports in Dec grows 6.3 pc to USD 2.49 bn

“Exports have recovered sharply in the last two months and if the trend continues the decline in this fiscal year may narrow down to 20-25 per cent. In the early months of the fiscal, the sector was down by over 80 per cent,” Gem Jewellery Export Promotion Council (GJEPC) chairman Colin Shah told.

Kolkata, The overall gross export of gems and jewellery remains strong and registered a growth of 6.33 per cent to USD 2.49 billion during December 2020 as compared to USD 2.35 billion in the corresponding month of 2019, a senior GJEPC official said. In Rupee terms, the sector grew by 9.2 per cent in December 2020 to Rs 18,261 crore.

However, the overall gross exports of the sector remained down by 39.98 per cent to USD 16.53 billion during AprilDecember 2020 period as compared to USD 27.54 billion during the same period last year, the official said.

“Exports have recovered sharply in the last two months and if the trend continues the decline in this fiscal year may narrow down to 20-25 per cent. In the early months of the fiscal, the sector was down by over 80 per cent,” Gem Jewellery Export Promotion Council (GJEPC) chairman Colin Shah told.

Cut and Polished diamond (CPD) exports in December 2020 posted a sharp jump by 38.47 per cent to USD 1.74 billion as compared to USD 1.25 billion in the previous years corresponding month. While, for the nine months period CPD exports stayed negative by 27.13 per cent to USD 10.69 billion.

Gold jewellery exports for the month under review was lower by 35.06 per cent to USD 0.50 billion compared to USD 0.77 billion in December 2019. And for the April-December period gold jewellery exports was down 67.30 per cent to USD 3.02 billion from USD 9.23 billion for the first nine months of the previous year, the GJEPC chairman said.

Coloured gemstone exports till December 2020 was also down by 50.26 per cent to USD 0.12 billion from USD 0.24 billion of last fiscal.

However, silver jewellery exports from April 2020 to December 2020 stayed robust and grew 50.66 per cent to USD 1.5 billion over the previous fiscal, he said.

Shah said in Rupee terms the overall gross exports rose 9.27 per cent to Rs 1,8261 crore for the month of December 2020 and for April-December was lower by 36.84 per cent to Rs 1,22,422 crore.

Meanwhile, overall gross import of Gems and Jewellery between April and December 2020 dropped by 46.14 per cent to USD 9.94 billion from USD 18.47 billion registered April December 2019. BSM RG RG.

Courtesy: Economic Times