Gems and jewellery exports rose by 6.5% to USD 32.37 billion during April-January this fiscal, said industry body GJEPC on Wednesday.
It will contribute to the economic development of Maharashtra and India by attracting investments of over Rs 20,000 crore
Gems and Jewellery Export Promotion Council has urged the government to reduce import duty on gold to 4 per cent from 7.5 per cent and a special package for the sector in the forthcoming Budget
The imports, it said, picked up in August which recorded the second-highest gold imports of 118.08 tonnes
Gems and jewellery exports rose by 29.67% to Rs 23,259.55 crore in September 2021 compared to Rs 17,936.86 crore in the year-ago month, according to the Gem and Jewellery Export Promotion Council
The gems and jewellery export is expected to decline by 20-25 per cent this fiscal year compared to 2019-20 due to the disruptions caused by the Covid-19 pandemic, GJEPC said on Saturday
Gems and jewellery exports are projected to decline by 25-30% this fiscal as there was a "complete washout" of the first quarter due to lockdown to curb spreading of the Covid-19, the GJEPC said
India's cut and polished diamond exports in July fell 39% from a year ago to $918.4 million, the Gems and Jewellery Export Promotion Council (GJEPC) said in a statement
Though the June figure compares poorly YoY, it's much better than April and May
The discontinuance of imports was aimed at stabilising prices, a motive that the industry seems to be achieving now
The exports stood at Rs 26,010.87 crore in October 2018, according to data given by the Gems and Jewellery Export Promotion Council (GJEPC)
As per the Gems and Jewellery Export Promotion Council (GJEPC), net exports of the sector declined 5.32 per cent to $30.96 billion in FY19
In a first since 1998, the rough diamonds mined in India were up for display for auction by state-run NMDC in association with GJEPC
Panna diamonds to be showcased first time ever at Surat International Diatrade Centre; stones weighing 24,000 carat in all, and valued at Rs 25 cr will be displayed between Sept 24-27
US buyers are looking at India favourable as India already exports $10 billion worth jewellery there
Fears India will lose leadership in diamond processing, shifting of manufacturing units to tax havens
The fall in G&J shipment was largely driven by a sharp fall in exports of cut and polished diamonds