Gems, jewellery exports rise 12% to Rs 19,855 crore in November: GJEPC

The gems and jewellery exports grew 11.83 per cent to Rs 19,855.17 crore in November compared to the year-ago period on the back of resumption of manufacturing activities after Diwali, GJEPC said

The gems and jewellery exports grew 11.83 per cent to Rs 19,855.17 crore (USD 2,429.86 million) in November compared to the year-ago period on the back of resumption of manufacturing activities after Diwali, GJEPC said on Monday.

The exports stood at Rs 17,755.28 crore (USD 2,380.97 million) in November 2021, according to the Gem and Jewellery Export Promotion Council (GJEPC).

"November is usually marked with resumption of manufacturing post the Diwali break that resulted in a rise in gem and jewellery exports by 12 per cent.

"The USA and Hong Kong remained the two biggest pillars of India's overall gem and jewellery export growth for the period of April to November 2022, accounting for USD 9,211.39 million and USD 5,781.90 million, respectively," GJEPC Chairman Vipul Shah said in a statement.

With the easing of Covid restrictions in China and the upcoming Chinese New Year, there may be hope on the horizon, he added.

In November, the overall gross export of Cut and Polished Diamonds (CPD) grew 4.97 per cent to Rs 10,202.54 crore (USD 1,248.41 million) compared to Rs 9,719.72 crore (USD 1,302.78 million) in November 2021.

The total export of gold jewellery (plain and studded) rose 15.93 per cent to Rs 6,097.64 crore (USD 746.03 million). In the year-ago period, it was at Rs 5,259.91 crore (USD 705.83 million), according to GJEPC data.

The provisional gross export of Polished Lab-Grown Diamonds grew 60.08 per cent to Rs 9,743.28 crore (USD 1,227.77 million) compared to Rs 6,086.59 crore (USD 819.76 million) for the same period last year.

During April to November 2022, provisional gross export of coloured gemstones jumped 41.32 per cent to Rs 2,091.64 crore (USD 263.86 million) compared to Rs 1,480.11 crore (USD 199.59 million) in the year-ago period.

For the same period, the provisional gross export of silver jewellery increased 37.98 per cent to Rs 17,273.85 crore (USD 2,177.62 million). It stood at Rs 12,518.78 crore (USD 1,687.38 million) in the same period a year ago.

During April to November 2022, provisional total export of platinum jewellery climbed 28.81 per cent to Rs 198.89 crore (USD 25.02 million) compared to Rs 154.40 crore (USD 20.83 million) in the year-ago period.