As per the Gems and Jewellery Export Promotion Council (GJEPC), India’s gem and jewellery exports surged 24% year-on-year to US$ 3.52 billion (Rs. 288.32 billion) in February.
The gross exports of cut and polished diamonds also increased significantly during the month, rising by 32% to US$ 2.38 billion (Rs. 195.82 billion), while exports of simple and studded gold jewellery increased by 29.89% to US$ 710 million (Rs. 58.29 billion).
An increase of 45% was also witnessed in plain gold jewellery exports because of the Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE. In addition, studded gold jewellery, which is majorly exported to the US, also showed an improvement of about 20%.
The total gross shipments of gems and jewellery increased by 5.27% to US$ 34 billion (Rs. 2,789.60 billion) for the entire fiscal year-to-date April 2022-February 2023.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.