India's gems, jewellery exports rise 27 pc in September

New Delhi [India], October 11 (ANI): India's gems and jewellery exports witnessed a 27.17 per cent growth in September to Rs 30,195.21 crore (USD 3765.51 million) as compared to Rs 23,743.46 crore during the same month last year, data released by the Gem and Jewellery Export Promotion Council (GJEPC) showed.
Since the start of the financial year 2022-23, the overall gross exports of gem and jewellery rose 12.82 per cent to Rs 161,545.06 crores on a cumulative basis (USD 20,580.11 million) as compared to Rs 143,187.15 crore (USD 19,359.01 million) for the same period last year, data showed. With this, the sector has achieved 45 per cent of the total export target of USD 45.7 billion for the current financial year.
"With a robust growth of gem & jewellery exports in September, the last quarter of the year is expected to be more fulfilling as sales will be driven by the Holiday season and festivities," Vipul Shah, Chairman of GJEPC said.
Plain gold jewellery has continued to gain traction with an average growth of 19.43 per cent (in dollar terms) post the India-UAE CEPA agreement.
"However, there are a few bottlenecks which if resolved would further boost the gem and jewellery trade between India and UAE. Lab-grown diamond exports continue to have a positive run, focused measures will further strengthen such exports from India," Shah said, adding that he was confident the sector would certainly achieve the export target.
Following is the item-wise break up of exports of gems and jewellery during the April-September period and for the month of September:
For the period of April - September 2022, the overall gross exports of Cut and Polished diamonds grew 4.71 per cent to Rs 95,805.48 crores as compared to Rs 91,495.04 crore for the same period last year.
In September 2022, the overall gross export of Cut and Polished diamonds grew 21.99 per cent to Rs 17,107.64 crore as compared to Rs 14,023.78 crore in September 2021.
For the period of April to September 2022, the provisional gross export of total Gold Jewellery (plain and studded) increased 24.88 per cent to Rs 38,939.62 crore as compared to Rs 31,182.32 crore for the same period last year.
For September 2022, the total gross export of Gold Jewellery (plain and studded) witnessed a growth of 25.42 per cent to Rs 7,067.17 crore as compared to Rs 5,634.86 crore for the same period last year.
In the financial year-to-date (April to September 2022), provisional gross export of Plain Gold Jewellery grew 26.92 per cent to Rs 16,395.42 crore as compared to Rs 12,917.66 crores for the same period last year.
For September 2022, the total gross export of Plain Gold Jewellery witnessed a growth of 30.78 per cent to Rs 2,556.40 crores as compared to Rs 1,954.78 crores for the same last year.
For the period of April to September 2022, provisional gross exports of all kinds of Studded Gold jewellery surged 23.43 per cent to Rs 22,544.21 crore as compared to Rs 18,264.67 crore for the same period last year.
For the month of September 2022, the total gross export of all kinds of Studded Gold jewellery went up by 22.57 per cent to Rs 4,510.77 crore as compared to Rs 3,680.08 crore in September 2021.
In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds soared 70.26 per cent to Rs 7,407.56 crore as compared to Rs 4,350.81 crore for the same period last year.
From April 2022 to September 2022, the provisional gross export of coloured gemstones jumped 54.62 per cent to Rs 1,642.93 crore as compared to Rs 1,062.57 crore for the same period last year.
From April to September 2022, the provisional gross export of Silver Jewellery increased 42.68 per cent to Rs 13,735.07 crore as compared to Rs 9,626.64 crore for the same period last year.
For the period of April 2022 to September 2022, provisional gross export of Platinum Jewellery grew 52.46 per cent to Rs 153.5 crores as compared to Rs 100.68 crore for the same period last year. (ANI)