Gems, jewellery exports dip 7.8% to $2.7 billion in January: GJEPC
Export of cut and polished diamonds (CPD) contracted 23.43 percent to $12.5 billion during April-January this fiscal.
February 11, 2021 / 09:24 PM IST
Gems and jewellery exports dipped 7.8 percent in January to $2.7 billion as against $2.9 billion a year ago, according to data of the Gem Jewellery Export Promotion Council (GJEPC). During April-January 2021, exports declined about 37 percent to $19.24 billion as compared with $30.52 billion during the 10 months of 2019-20, the data showed.
Export of cut and polished diamonds (CPD) contracted 23.43 percent to $12.5 billion during April-January this fiscal. Gold jewellery shipments also dipped about 65 percent to $3.55 billion.
However, overall gold jewellery exports for the first 10 months of the financial year rose 5.33 percent to Rs 71,981.43 crore, from Rs 68,340.74 crore in the year-ago period. Further, on the amended Gold Monetisation Scheme (GMS), GJEPC President Colin Shah said the revamped scheme is a win-win for all as it will unlock tonnes of unused gold in India.
"This will not only benefit the consumer, retailer and banks but the nation as well. This will drastically reduce the import of gold and will help the country with our current account deficit," he added.