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India’s gems and jewellery exports have shown signs of recovery due to growth in demand for diamonds and jewellery in international markets like US, China, Europe etc. which have opened for trade. Exports have registered at USD 1764.06 Million in August 2020, as compared to USD 36 Million in April 2020.
However, as compared with August 2019 (gross exports of USD 3018.32), gross exports is showing decline of 41.55 percent.
During the April 2020 -August 2020, India’s top exporting destinations for gem and jewellery were: Hong Kong ($2716.29 million), USA ($1739.49 million), UAE ($398.49 million), Belgium ($258.82 million), Israel ($167.12 million), Turkey ($146.50 million), Thailand ($110.72 million), U.K (72.94 million), Japan ($64.17 million), and Switzerland ($48.90 million).
Colin Shah, Chairman, The Gem and Jewellery Export Promotion Council said, commented: “All the gems and jewellery export units are working in full swing and the trade is getting back to normalcy. We are optimistic that we will be able to have a decent recovery of gems and jewellery exports and the overall decline gap will be minimised to just over 20-25 percent at the closure of the fiscal year, as compared with previous year exports.”
For the April to August 2020 period, the overall gross exports of Gems & Jewellery at US$ 6008.57 million is showing a decline of 47.65% as compared to US$ 11478.14 million for the same period previous year. The overall gross exports of Gems & Jewellery at US$ 1764.06 million in the month of AUG 2020 witnessed a decline of 41.55% as compared to US$ 3018.32 million for the same period previous year.
Imports of gems & jewellery for the April to August at US$ 2342.134 million is showing a decline of 65.64% as compared to US$ 6816.92 million for the same period previous year.
During the April to August period, the overall gross exports of Cut & Polished diamonds at US$ 3936.98 million is showing a decline of 41.42% as compared to US$ 6720.42 million for the same period of previous year. In the month of August, the gross export of Cut & Polished diamonds at US$ 1216.79 million is showing a decline of 25.72% as compared to US$ 1638.22 million for the same period of previous year.
The overall gross Imports of Cut & Polished diamonds at US$ 179.19 million in month of AUG 2020 is showing a growth of 58.12% as compared to US$ 113.32 million for the same period of previous year.
Gross export of total Gold Jewellery for the period APR 2020 – AUG 2020 at US$ 850.590 million is showing a decline of 70.61% over the comparative figure of US$ 2894.58 million for previous year. During the month of August, the total gross export of Gold Jewellery at US$ 313.08 million is showing a decline of 67.64% as compared to US$ 967.42 million for the same period of previous year.
Gross export of Silver Jewellery for the period APR 2020 – AUG 2020 at US$ 632.73 million is showing a growth of 74.610% over the comparative figure of US$ 362.37 million for previous year.
For the period APR 2020 – AUG 2020, gross export of Coloured Gemstones at US$ 47.33 million is showing a decline of 63.13% over the comparative figure of US$ 128.38 million for previous year.
Gross export of Platinum Jewellery for the period APR 2020 – AUG 2020 at US$ 1.97 million is showing a growth of 6.06% over the comparative figure of US$ 1.86 million for previous year.
