GJEPC

India's gem and jewellery exports grew 24 per cent to Rs 28,832.86 crore in February following a recovery in the Chinese and Middle East markets, GJEPC said on Thursday. The overall gems and jewellery exports during February 2022 stood at Rs 23,326.80 crore, Gem and Jewellery Export Promotion Council (GJEPC) said in a statement. In February 2023, the overall shipments of cut and polished diamond (CPD) increased 32 per cent to Rs 19,582.38 crore compared to Rs 14,841.90 crore a year ago. The total export of gold jewellery (plain and studded) rose 29.89 per cent in February to Rs 5,829.65 crore against Rs 4,488.30 crore in the year-ago period. "We are excited about the strong pace of demand observed by Indian exhibitors at the recent Hong Kong show, which revealed the untapped demand in the Chinese market. "In February, India saw 32 per cent growth in CPD exports, which can be partly attributed to the strong demand from China and the Lunar New Year festivities," GJEPC chairman Vipul

Whereas to protect the domestic jewellery market, it has suggested that the basic customs duty on gold/silver/platinum jewellery should be increased from 20% to 25%

The gems and jewellery exports grew 11.83 per cent to Rs 19,855.17 crore (USD 2,429.86 million) in November compared to the year-ago period on the back of resumption of manufacturing activities after Diwali, GJEPC said on Monday. The exports stood at Rs 17,755.28 crore (USD 2,380.97 million) in November 2021, according to the Gem and Jewellery Export Promotion Council (GJEPC). "November is usually marked with resumption of manufacturing post the Diwali break that resulted in a rise in gem and jewellery exports by 12 per cent. "The USA and Hong Kong remained the two biggest pillars of India's overall gem and jewellery export growth for the period of April to November 2022, accounting for USD 9,211.39 million and USD 5,781.90 million, respectively," GJEPC Chairman Vipul Shah said in a statement. With the easing of Covid restrictions in China and the upcoming Chinese New Year, there may be hope on the horizon, he added. In November, the overall gross export of Cut and Polished Diamon

Say India is better placed even as exports decline

Of the roughly 8,000 polishing units in Gujarat city, 15% polish lab-grown diamonds exclusively

With some mines in Botswana being put to work, rough diamond trade could ease by 10% amid US sanctions on Russia's Alrosa which commands 27% global supply

Gem and Jewellery Export Promotion Council (GJEPC) Chairman Colin Shah said India directly imports around 10 per cent of Alrosa's total rough diamond output

Gems and jewellery exports rose by 6.5% to USD 32.37 billion during April-January this fiscal, said industry body GJEPC on Wednesday.

It will contribute to the economic development of Maharashtra and India by attracting investments of over Rs 20,000 crore

Gems and Jewellery Export Promotion Council has urged the government to reduce import duty on gold to 4 per cent from 7.5 per cent and a special package for the sector in the forthcoming Budget

The imports, it said, picked up in August which recorded the second-highest gold imports of 118.08 tonnes

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

The gems and jewellery export is expected to decline by 20-25 per cent this fiscal year compared to 2019-20 due to the disruptions caused by the Covid-19 pandemic, GJEPC said on Saturday

Gems and jewellery exports are projected to decline by 25-30% this fiscal as there was a "complete washout" of the first quarter due to lockdown to curb spreading of the Covid-19, the GJEPC said

India's cut and polished diamond exports in July fell 39% from a year ago to $918.4 million, the Gems and Jewellery Export Promotion Council (GJEPC) said in a statement

Though the June figure compares poorly YoY, it's much better than April and May

The discontinuance of imports was aimed at stabilising prices, a motive that the industry seems to be achieving now

The exports stood at Rs 26,010.87 crore in October 2018, according to data given by the Gems and Jewellery Export Promotion Council (GJEPC)

As per the Gems and Jewellery Export Promotion Council (GJEPC), net exports of the sector declined 5.32 per cent to $30.96 billion in FY19

In a first since 1998, the rough diamonds mined in India were up for display for auction by state-run NMDC in association with GJEPC