Exports of gems and jewellery grew by 6.04% during April-July 2020-21 in comparison to exports during April-July 2019-20. The exports value of gems and jewellery during April-July 2020-21 stood at US$ 11.8 billion. The exports value were compared to 2019-20 exports value as the pandemic hit 2020-21 would not depict the true picture.
According to Colin Shah, GJEPC Chairman, the exports of gems and jewellery are expected to grow further in coming months with continuous recovery in international markets, upcoming festive season in domestic as well as international markets, and increase in disposable income.
He further added, “We are optimistic that our flagship show, IIJS Premiere in September and IGJS in Dubai in October would further improve the sentiment in the global market. Exports growth is majorly attributed to the renewed consumer sentiments, especially in the USA with the recent announcement of a COVID -19 stimulus package of US$ 1.9 trillion to speed up the USA’s recovery from the economic and health effects of the pandemic.”
Cut and polished diamond exports witnessed growth of 27 % during April-July 2021 over the exports during April-July 2019-20. Exports of Silver jewellery increased to US$ 843 million.
You must be logged in to post a comment.
Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.