India’s gems and jewellery exports saw a growth of 19.64 per cent in November this year, despite overall exports remaining flat at USD 18.86 billion during the April-November period, according to data by the Gem and Jewellery Export Promotion Council (GJEPC).
The total gems and jewellery exports in November were valued at approximately USD 2.5 billion, compared to USD 2.1 billion during the corresponding month of the previous year, according to GJEPC data.
The overall exports, however, were at USD 18.85 billion in the April-November period of last year.
The overall gross export of cut and polished diamonds was lower at USD 919.74 million in November, as compared to USD 666.34 million in the same period of the previous year. But, provisional gross export of polished lab-grown diamonds witnessed a 10.55 per cent rise in November at USD 76.09 million over USD 68.83 million a year ago.
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Meanwhile, volatile prices affected gold jewellery exports, which were flat at USD 1.21 billion in November against USD 1.23 billion a year ago. Studded gold jewellery shipments surged to USD 828.89 million last month from USD 555.39 million a year ago due to high demand for job works.
“Markets are stabilising and demand in many export markets is picking up including Hong Kong, China and the Middle East. Even as the performance in the US is slow, robust demand in other markets is adding on to the growth. Exports of gold studded jewellery surged as job work demand has gone up in India,” said GJEPC chairman, Kirit Bhansali.
Exports of silver jewellery surged to USD 197.97 million from USD 63.99 million.
Bhansali said silver exports had suffered in the previous months due to shortage of the bullion, however, with the supply chain restored the shipments surged.
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