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GJEPC Witnessed Record Growth of Studded Gold jewelry and Cut & Polished Diamonds in Q1

GJEPC Witnessed Record Growth of Studded Gold jewelry and  Cut & Polished Diamonds in Q1. The gems and jewelry exports are back to the pre-covid levels. The overall gross exports of Gems & Jewellery witnessed a  growth of 8.46% to Rs. 67265.66 Crore (3% to US$ 9.18 billion) during April – June 2021 as compared to Rs. 62018.48 Crore (US$ 8.92 billion) during the same period in April -June 2019 (pre-pandemic).

Overall G&J gross exports witnessed a growth of 4.83% to Rs. 20851.28 Crore (decline of 0.78% to US$ 2863.76 million) during the month of June 2021 as compared to Rs. 19891.10 Crore (US$ 2886.19 million) in June 2019.

Colin Shah, Chairman, GJEPC said, “Growth in exports is majorly attributed to the revived import demand from India’s leading export market of USA, fulfillment of export orders received by numerous Indian exhibitors during the Virtual Buyer-Seller Meets (VBSMs) conducted by the Council. Revival of demand for studded jewelry products and re-stocking/increasing the inventory levels majorly attributed to the swift recovery of exports of cut and polished diamonds as well as studded jewelry.

Cut and Polished diamond exports have registered a growth of 24.46% to Rs. 14512.11 Crore (18.24 % to US$ 2000.48 million) in June 2021 as compared to Rs. 11660.29 Crore (US$ 1691.90 million) in June 2019.

From April to June 2021, Cut and Polished diamond exports have recorded a growth of 26.45% to Rs. 45741.52 Crore (20.34% to US$ 6261.85 million) as compared to Rs. 36173.89 Crore (US$ 5203.44 million) registered from April to June 2019.

Gold Jewellery Exports is showing a decline of 34.26% to Rs. 4185.10 Crore (decline of 38.29% to US$ 570.05 million) in June 2021 as compared to Rs. 6366.09 Crore (US$ 923.72 million) in June 2019.

Gold Jewellery Exports is showing a decline of 35.93% to Rs. 12781.31 Crore  (decline of 39.56% to the US $ 1734.20 million) from April 2021 to June 2021 as compared to Rs. 19947.59 Crore (US$ 2869.22 million) from April to June 2019.

Plain Gold Jewellery Exports is showing a decline of 69.55% to Rs. 4608.91 crore  (decline of 71.33% to the US $ 624.32 million) for the period of April 2021 to June 2021 as compared to Rs. 15136.70 Crores (US$ 2177.52 million) from April to June 2019.

Studded Gold Jewellery Exports are showing a growth of 69.87% to Rs. 8172.40 Crores (60.46% to the US $ 1109.87 million) in April 2021 – June 2021 as compared to Rs. 4810.99 Crores (US$ 691.70 mn) during the same period from April to June 2019.

Silver Jewellery Exports is showing a growth of 171.23% to Rs. 4638.29 Crore (155.05% to US$ 627.42 million) from April 2021 to June 2021 as compared to Rs. 1710.12 Crore (US$ 246 million) during the same period of April to June 2019.

Coloured Gemstone Exports are showing a decline of 24.78% to Rs. 447.85 Crore (decline of 29.10% to US$ 60.70 million) April 2021 to June 2021 as compared to Rs. 595.39 Crore (US$ 85.61 million) during the same period April to June 2019.

Mines to Market
Prashant Rathod
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