India’s Gem & Jewellery exports witnessed a growth of 17% in August 2021

Mumbai: The overall gross exports of Gems & Jewellery recorded a growth of 17% to Rs. 24239.81crore (+12.76% in dollar terms to US$ 3288.32 million) in the month of August 2021 as compared to the August 2019 figure of Rs. 20793.80 crore (US$ 2916.18 million).  

During April-August 2021, the overall gross exports of Gems & Jewellery witnessed a growth of 13.17% to Rs. 116503.64 crore (+7.41% in dollar terms to US$ 15853.91 million) as compared to Rs. 102949.34 crore (US$ 14760.66 million) during April-August 2019. 

Colin Shah, Chairman, GJEPC, said, “So far the FY2021-22 has been showing a healthy recovery. Thanks to the gradual opening of the markets, the removal of entry restrictions, and the forthcoming festive season, India’s gem and jewellery exports will witness consistent growth in the near future.” 

Cut & Polished Diamond exports have registered a growth of 29.37% to Rs.  15083.33 crore (+25.27% in dollar terms to US$ 2051.88 million) in August 2021 as compared to Rs. 11659.46 crore (US$ 1638 million) in August 2019. 

During April-August 2021, Cut & Polished Diamond exports grew 33.17% to Rs. 77473.56 crore (+26.74% in dollar terms to US$ 10574.22 million) as compared to Rs. 58175.38 crore (US$ 8343.42 million) during April-August 2019. 

“Strong demand in the USA, China and several European countries along with sustained consumer interest in diamond jewellery are some of the factors for the positive export growth of cut and polished diamonds.” said Colin Shah. 

In August 2021 Gold Jewellery exports declined 15.06% to Rs. 5756.54 crores (-17.91% in dollar terms to US$ 777.65 million) as compared to Rs. 6777.50 crore (US$ 947.36 million) in August 2019. 

During April-August 2021, overall Plain & studded Gold Jewellery exports declined 30.39% to 23715.67 crore (-34.29% in dollar terms to US$ 3208.31 million) as compared to Rs. 34071.33 crore (US$ 4882.64 million) for the same period in 2019. 

In April-August 2021, Plain Gold Jewellery Exports dropped 66.82% to Rs.8468.43 crore (-68.70% in dollar terms to US$ 1144.66 million) as compared to Rs. 25526.18 crore (US$ 3657.36 million) during April-August 2019.  

Fiscal year-to-date Studded Gold Jewellery Exports shot up 78.43% to Rs.15247.24 crore (+68.42% in dollar terms to US$2063.66 million) as compared to Rs. 8545.15 crore (US$ 1225.27 million) during the same period of 2019.  

From April-August 2021 Silver Jewellery Exports skyrocketed 169.62% to Rs. 7866.04 crore (+153.98% in dollar terms to US$ 1061.13 million) as compared to Rs. 2917.44 crore (US$ 417.80 million) in April-August 2019. 

“The positive export growth was boosted by the exports of silver jewellery studded with precious metals (diamonds) from the SEZs,” added Colin Shah.  

Coloured Gemstone Exports in the fiscal year-to-date declined 9.14% to Rs. 828.76 crore (-14.36% in dollar terms to US$ 111.90 million) compared to Rs. 912.11 crore (US$ 130.66 million) recorded in the corresponding period in 2019.  

Courtesy: Retail Jeweller India News