‘Gem, jewellery exports up 21.41% to `25,295 cr in June’

Exports during Q1 2022 rose by 14.6% to Rs 77,049.76 cr compared to Rs 67,231.25 cr in Q1 2021

MUMBAI: India’s gems and jewellery exports rose by 21.41 per cent to Rs 25,295.69 crore ($3,241.38 million) in June compared to the same month last year, an industry body said on Thursday.

The overall gems and jewellery exports stood at Rs 20,835.57 crore ($2,830.79 million) in June 2021, the Gem and Jewellery Export Promotion Council (GJEPC) said in a statement. Exports during April-June 2022 rose by 14.6 per cent to Rs 77,049.76 crore ($9,983.78 million) compared to Rs 67,231.25 crore ($9,110.48 million) during April-June 2021.

GJEPC stated that the gem and jewellery exports to the Middle East have started showing positive impact post the Comprehensive Economic Partnership Agreement CEPA) with the UAE.

“Post the implementation of India-UAE CEPA on May 1, plain gold jewellery exports to the UAE witnessed a growth of 72 per cent to Rs 1,048.40 crore in May and 68.65 per cent to Rs 1,451.58 crore in June 2022 compared to Rs 609.47 crore in May 2021 and Rs 860.73 crore in June 2021, respectively,” GJEPC said. Total gem and jewellery exports to the UAE during April to June 2022 witnessed a growth of 10.09 per cent to Rs 9,802.72 crore against Rs 8,904.08 crore for the same period last year.

“Plain gold jewellery exports have been the immediate beneficiary of the India-UAE CEPA. I would like to thank the Ministry of Commerce and Industry for supporting us with policy that is making a transformative difference and delivering results that are accelerating our momentum towards achieving $75 billion in exports. “I urge all exporters to maximise their returns and make optimum use of the benefits available through this pact, GJEPC chairman Colin Shah added. Exports of Cut and Polished Diamonds (CPD) in June witnessed a growth of 8.45 per cent to Rs 15,737.26 crores ($2,016.71 million) compared to Rs 14,510.48 crore ($1,972.34 million) in June 2021.

The total exports of gold jewellery (plain and studded) witnessed a growth of 35.25 per cent to Rs 5,641.28 crore ($722.6 million) compared to Rs 4,171.06 crore ($566.11 million) in June 2021.

Similarly, the provisional gross export of silver jewellery for April-June 2022 witnessed a growth of 34.52 per cent to Rs 6,258.23 crore ($810.03 million) against Rs 4,652.37 crores ($629.32 million) for the same period of previous year. Provisional gross export of coloured gemstones during April-June jumped by 68.32 per cent to Rs 767.03 crore ($99.4 million) compared to Rs 455.7 crore ($61.76 million) for the same period of previous fiscal.