India’s gross exports of gold jewellery rose by 24.36% to USD 12.03 billion in fiscal year (FY) 2019 while exports of cut and polished diamonds remained virtually steady (down by a marginal 0.39% to USD 23.82 billion), according to Gems and Jewellery Export Promotion Council (GJEPC).
Though total overall exports across all product segments were up 5.08% in rupee terms, they were down 3.12% to USD 39.68 billion as compared to exports of USD 40.96 billion in FY18.
Chairman of GJEPC Pramod Kumar Agrawal said, “Despite all the macro-economic and geopolitical challenges, India’s exports of gems & jewellery in FY19 have shown positive growth thanks to the initiative and enterprise of our exporters. The strong double-digit growth in gold jewellery exports is heartening.”
The impact of currency fluctuations was also apparent across most other segments. Gold jewellery exports which were up 24.36% in dollar terms, showed a 34.66% rise in rupee terms, while polished diamond exports rose 8.94% in rupee terms, but were only up 0.39% in dollar terms, it added.
Courtesy: KNNIndia
