Gems, jewellery exports grow 5.76% to USD 29 bn in Apr-Dec 2021

Gems and jewellery exports in the April-December 2021 period grew by 5.76 per cent to USD 29.08 billion on account of healthy demand in major countries including the US, Hong Kong and Thailand, the GJEPC said on Friday.

The Gem and Jewellery Export Promotion Council (GJEPC) said that exports in December 2021 rose by 29.49 per cent to USD 3.04 billion.

“Holiday and festive demand was robust in important trading centres such as the USA, Hong Kong, Thailand and Israel. And we have every reason to believe that this momentum will carry through the end of FY2022, bringing us closer to the set target of USD 41.67 billion in exports,” GJEPC chairman Colin Shah said in a statement.

Cut and polished diamond exports during April-December 2021 grew by 23 per cent to USD 18 billion. Similarly, gold jewellery exports during the period too rose by 25.41 per cent to USD 6.91 billion, the council said.

Exports of plain and studded gold jewellery increased by 57.47 per cent to USD 2.83 billion and USD 4 billion during the nine-month period, respectively.

“Silver jewellery exports for the period April to December 2021 grew by 94 per cent to USD 1.96 billion,” it added.

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