India’s gems and jewelry exports rose by 21.41 per cent to Rs 25,295.69 crore (USD 3,241.38 million) in June in comparison with the identical month final 12 months, an trade physique mentioned on Thursday.
The general gems and jewelry exports stood at Rs 20,835.57 crore (USD 2,830.79 million) in June 2021, the Gem and Jewelry Export Promotion Council (GJEPC) mentioned in an announcement.
Exports throughout April-June 2022 rose by 14.6 per cent to Rs 77,049.76 crore (USD 9,983.78 million) in comparison with Rs 67,231.25 crore (USD 9,110.48 million) throughout April-June 2021.
GJEPC acknowledged that the gem and jewelry exports to the Center East have began exhibiting constructive affect publish the Complete Financial Partnership Settlement CEPA) with the UAE.
“Publish the implementation of India-UAE CEPA on Might 1, plain gold jewelry exports to the UAE witnessed a development of 72 per cent to Rs 1,048.40 crore in Might and 68.65 per cent to Rs 1,451.58 crore in June 2022 in comparison with Rs 609.47 crore in Might 2021 and Rs 860.73 crore in June 2021, respectively,” GJEPC mentioned.
Whole gem and jewelry exports to the UAE throughout April to June 2022 witnessed a development of 10.09 per cent to Rs 9,802.72 crore towards Rs 8,904.08 crore for a similar interval final 12 months.
“Plain gold jewelry exports have been the speedy beneficiary of the India-UAE CEPA. I want to thank the Ministry of Commerce and Trade for supporting us with coverage that’s making a transformative distinction and delivering outcomes which might be accelerating our momentum in direction of reaching USD 75 billion in exports.
“I urge all exporters to maximise their returns and make optimum use of the advantages accessible by way of this pact,? GJEPC chairman Colin Shah added.
Exports of Reduce and Polished Diamonds (CPD) in June witnessed a development of 8.45 per cent to Rs 15,737.26 crores (USD 2,016.71 million) in comparison with Rs 14,510.48 crore (USD 1,972.34 million) in June 2021.
The whole exports of gold jewelry (plain and studded) witnessed a development of 35.25 per cent to Rs 5,641.28 crore (USD 722.6 million) in comparison with Rs 4,171.06 crore (USD 566.11 million) in June 2021.
Equally, the provisional gross export of silver jewelry for April-June 2022 witnessed a development of 34.52 per cent to Rs 6,258.23 crore (USD 810.03 million) towards Rs 4,652.37 crores (USD 629.32 million) for a similar interval of earlier 12 months.
Provisional gross export of colored gems throughout April-June jumped by 68.32 per cent to Rs 767.03 crore (USD 99.4 million) in comparison with Rs 455.7 crore (USD 61.76 million) for a similar interval of earlier fiscal.
The provisional exports of polished Lab Grown Diamonds for the primary quarter rose sharply by 91.24 per cent to Rs 3,669.09 crore (USD 475.37 million) towards Rs 1,918.59 crore (USD 259.73 million) for a similar interval final 12 months.