Gem, jewellery exports get CEPA raise

Gem, jewellery exports get CEPA raise

by admin- Friday, July 15th, 2022 07:15:24 AM

Shipments leap 10 per cent to $nine.Ninety eight billion in the first sector following the inking of the economic partnership settlement
Gem and jewellery exports to the UAE have commenced showing the wonderful effect of the Comprehensive Economic Partnership Agreement (CEPA) signed with it in May.

Plain gold jewellery exports to the UAE have grown seventy two in step with cent and 69 in step with cent to Rs 1,048 crore and Rs 1,452 crore respectively in May and June this year, towards Rs 609 crore and Rs 861 crore within the identical duration last 12 months , in line with statistics released by using the Gem and Jewellery Export Promotion Council on Thursday.

Gem and jewellery exports to the UAE in the first area of this fiscal have been up 10 consistent with cent at Rs nine,803 crore (Rs 8,904 crore).
Demand from key markets inclusive of the USA (Rs 28,975 crore), Hong Kong (Rs 17,246 crore), Belgium (Rs four,646 crore) and Israel (Rs 2,854 crore) additionally remained robust within the first area of this monetary.

In June, exports of gemstones and jewellery recorded 21 in step with cent boom to Rs 25,296 crore (Rs 20,836 crore) and 14 according to cent in greenback phrases to $three.24 billion ($2.83 billion).

Between April and June, ordinary gems and jewellery exports recorded 15 according to cent growth to Rs seventy seven,050 crore and 10 consistent with cent in dollar phrases to $9.98 billion.

Colin Shah, Chairman, GJEPC, stated simple gold jewellery exports had been the on the spot beneficiary of the India-UAE CEPA that has accelerated the growth momentum to acquire $75 billion in exports.

In June, the gross export of reduce and polished diamonds recorded 2 per cent increase to $2.01 billion (Rs 15,737 crore).

Gold jewelry witnessed 28 in step with cent increase to $723 million (Rs five,641 crore) against $555 millon).

Q1 fashion
In the sector ended June, universal gross exports of cut and polished diamonds witnessed a boom of one in line with cent to $6.26 billion (Rs forty eight,347 crore).

Gold jewelry recorded a growth of 25 in keeping with cent to $2.Sixteen billion (Rs 16,694crore). Silver jewelry exports expanded 29 according to cent at $810 million (Rs 6,258 crore).

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