Gem, jewellery exports rise 29% to Rs 23,259 cr in Sept following Covid disruption

Gems and jewellery exports rose by 29.67% to Rs 23,259.55 crore in September 2021 compared to Rs 17,936.86 crore in the year-ago month, according to the Gem and Jewellery Export Promotion Council (GJEPC). In September 2019, the shipments were worth Rs 23,491.20 crore.

For the April-September period, the shipments surged by 134.55% to Rs 1,40,412.94 crore compared to the same period in 2020. The overall gems and jewellery exports stood at Rs 59,864.55 crore during April to September 2019, following Covid related disruptions, GJEPC said in a statement on Saturday.

While in 2019, the overall gems and jewellery exports were at Rs 1,26,461.93 crore during April to September, GJEPC said.

“With Rs 140,412.94 crore (USD 18.98 billion) exports during April-September, the sector has already achieved nearly half (46%) of the USD 41.66 billion exports target set by the government for the sector. The sentiment in the industry is incredibly positive with markets opening up and demand gradually returning to normal,” GJEPC chairman Colin Shah said.

Moreover, with the festive season coming up, GJEPC is optimistic to achieve the export target by the end of the financial year, he added.

During April-September 2021, Cut and Polished Diamond (CPD) exports grew by 122.62% to Rs 91,489.2 crore compared to Rs 41,095.83 crore in the same period of 2020.

Gold jewellery exports during April-September 2021 surged by 262.66% to Rs 29,379.36 crore as against Rs 8,100.97 crore in the corresponding period of 2020.

Silver jewellery shipments increased by 48.25% to Rs 9,477.39 crore in April-September compared to Rs 6,392.65 crore during April-September 2020, the GJEPC added.