Gems & Jewellery export rise by 20%
The Gem and Jewellery Export Promotion Council (GJEPC) said that an year-on-year growth of 20% has been recorded in India’s gems and jewellery exports during this May. The strong demand from key markets including the US led to export of USD 3.28 billion, rising from USD 2.89 billion in May 2021.
The gross exports of gems and jewellery for the period April-May 2022, increased by 10.08% to USD 6.65 billion, up from USD 6.28 billion in April-May 2021. The export growth was seen in the key markets, including the US which accounted for USD 2.58 billion, Hong Kong (USD 1.38 billion), UAE (USD 810.16 million) and Belgium (USD 441.37 million), as reported by GJEPC.
The Silver jewellery was the exception, which saw a decline in exports during April-May 2022 by 6.63% to USD 485.41 million, from USD 540.19 million during April-May 2021. The growth in export had been reported for Coloured gemstone exports, polished lab-grown diamonds, Cut and Polished Diamonds (CPD) and the Gold jewellery export.