India’s Gems and Jewellery exports dip 2.05% in October

India’s Gems and Jewellery exports dip 2.05% in October

by admin- Friday, November 22nd, 2019 07:25:45 PM

India’s usual gross exports of gem stones and jewelry dipped by 2.05% in October 2019, with growth in the gold jewellery segment making up to an extent for the continued big drop in polished exports, according to provisional statistics released by the Gem & Jewellery Export Promotion Council (GJEPC).

Cut and polished diamond exports declined by 15.39% 12 months-on-12 months totalling US$ 1.Ninety five billion in the course of the month (October 2018: US$ 2.30 bn), gold jewelry (undeniable and studded) exports were up by 12.49% year-on-yr touching US$ 1,066.Ninety nine million as against US$ 948.51 million within the equal month a yr ago, the statistics indicated.

Exports of silver jewellery rose to US$ 176.54 million in October 2019 as compared to US$ 87.09 million inside the same month final 12 months.

For the primary seven months of the modern-day fiscal, overall gross exports of the gemstones and jewellery enterprise stood at US$ 22.Forty two billion as compared to US$ 23.91 billion inside the identical length of the preceding 12 months, a decline of 6.25%. Imports throughout the sector at some point of first seven months of fiscal 2020 have been down eleven.10% from US$ 16.12 billion remaining year to US$ thirteen.98 billion this yr.

In April-October 2019, exports of gold jewellery (both simple and studded) rose via 2.Eighty four% to US$ 7.27 bn as against US$ 7.07 bn at some point of the primary seven months of the previous fiscal.

Exports of silver jewelry rose steeply to US$ 737.74 million in April-October 2019 from US$ 407.90 mn a year in the past.

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