Mumbai: Gems and jewelry exports increased 11.83% to Rs 19,855.17 crore ($2,429.86 million) in November year-on-year thanks to the resumption of production activities after Diwali, GJEPC said on Monday. According to the Gems and Jewelry Export Promotion Council (GJEPC), exports reached Rs 17,755.28 crore ($2,380.97 million) in November 2021.
“November is usually marked by the resumption of production after the Diwali holiday which leads to an increase in the price of gems and export jewelry equal to 12 percent.
“The US and Hong Kong remain the two largest pillars of India’s overall gem and jewelry export growth in the April-November 2022 period, accounting for $9,211.39 million and $5,781 respectively. $90 million”, President of GJEPC Vipul Shah said in a statement.
With the easing of Covid restrictions in China and the upcoming Lunar New Year, there may be hope, he added.
In November, the total export turnover of Cutting and Polishing Diamond (CPD) rose 4.97% to 10,202.54 crore ($1,248.41 million) from 9,719.72 crore ($1,302.78 million) in November 2021.
Total exports of gold jewelry (plain and set) increased 15.93% to Rs 6,097.64 crore ($746.03 million). During the same period last year, it stood at Rs 5,259.91 crore ($705.83 million), according to GJEPC data.
Total temporary exports of Lab Polished Diamonds increased 60.08% to Rs 9,743.28 (USD 1,227.77 million) compared with Rs 6,086.59 (USD 819.76 million) in the same period last year. last.
Between April and November 2022, total temporary exports of colored gemstones increased by 41.32% to Rs 2,091.64 ($263.86 million) compared to Rs 1,480.11 (199.59). million USD) in the same period last year.
During the same period, total exports of temporary silver jewelry increased 37.98% to Rs 17,273.85 crore ($2,177.62 million). It stood at Rs 12,518.78 crore ($1,687.38 million) in the same period a year ago.
Between April and November 2022, total exports of temporary platinum jewelry increased 28.81% to Rs 198.89 crore ($25.02 million) compared with Rs 154.40 crore (20 crore). .83 million USD) in the same period last year.
