Gem & Jewellery exports in Dec grows 6.3 pc to USD 2.49 bn

In the early months of thefiscal, the sector was down by over 80 per cent, GemJewellery Export Promotion Council GJEPC chairman Colin Shahtold PTI.Cut and Polished diamond CPD exports in December2020 posted a sharp jump by 38.47 per cent to USD 1.74 billionas compared to USD 1.25 billion in the previous yearscorresponding month.

The overall gross export of gemsand jewellery remains strong and registered a growth of 6.33per cent to USD 2.49 billion during December 2020 as comparedto USD 2.35 billion in the corresponding month of 2019, asenior GJEPC official said.

In Rupee terms, the sector grew by 9.2 per cent inDecember 2020 to Rs 18,261 crore.

However, the overall gross exports of the sectorremained down by 39.98 per cent to USD 16.53 billion duringAprilDecember 2020 period as compared to USD 27.54 billionduring the same period last year, the official said.

''Exports have recovered sharply in the last two monthsand if the trend continues the decline in this fiscal year maynarrow down to 20-25 per cent. In the early months of thefiscal, the sector was down by over 80 per cent,'' GemJewellery Export Promotion Council (GJEPC) chairman Colin Shahtold PTI.

Cut and Polished diamond (CPD) exports in December2020 posted a sharp jump by 38.47 per cent to USD 1.74 billionas compared to USD 1.25 billion in the previous yearscorresponding month. While, for the nine months period CPDexports stayed negative by 27.13 per cent to USD 10.69billion.

Gold jewellery exports for the month under review waslower by 35.06 per cent to USD 0.50 billion compared to USD0.77 billion in December 2019. And for the April-Decemberperiod gold jewellery exports was down 67.30 per cent to USD3.02 billion from USD 9.23 billion for the first nine monthsof the previous year, the GJEPC chairman said.

Coloured gemstone exports till December 2020 was alsodown by 50.26 per cent to USD 0.12 billion from USD 0.24billion of last fiscal.

However, silver jewellery exports from April 2020 toDecember 2020 stayed robust and grew 50.66 per cent to USD 1.5billion over the previous fiscal, he said.

Shah said in Rupee terms the overall gross exportsrose 9.27 per cent to Rs 1,8261 crore for the month ofDecember 2020 and for April-December was lower by 36.84 percent to Rs 1,22,422 crore.

Meanwhile, overall gross import of Gems and Jewellerybetween April and December 2020 dropped by 46.14 per cent toUSD 9.94 billion from USD 18.47 billion registered April December 2019.