Exports of gems and jewelery increased to $ 1.55 billion in the current fiscal year, from 6.04 per cent in April-July, compared to $ 11.8 billion in the same period of 2019-20. However, gold jewelery exports fell 38.5 per cent to $ 2.41 billion. On the other hand, silver jewelery exports rose to $ 843 million. This growth is due to the continuous improvement of major export destination markets such as the US, China and Hong Kong. GJEPC gave this information on Monday. In July, exports grew 18 percent to $ 3.36 billion. However, exports of gems and jewelery stood at $ 3.87 billion in April-July 2020.
Exports will increase further in the coming months
Export figures for 2021-22 have been compared with the numbers for 2019-20, because the comparison of the epidemic-prone year 2020-21 does not show a realistic picture of export growth due to the low root effect in the region. GJEPC President Colin Shaw said the steady improvement in global markets, the increase in consumer disposable income, and the upcoming festive season in the domestic and international markets, are expected to increase exports in the coming months. “We are optimistic that our flagship exhibition, the IIJS premiere in September and the IGJS in Dubai in October, will further enhance the feel of the global market.
27% increase in diamond exports
“Export growth is driven by improving consumer sentiment, especially in the US. The announcement of a $ 1.9 trillion Kovid-19 stimulus package in that country to recover from the economic and health impacts of the epidemic has improved consumer sentiment there (in the US). Exports of polished diamonds increased 27 percent to $ 8.52 billion compared to $ 6.7 billion in the same period of 2019-20.