India's Jewellery Market Declines Amidst Global Fluctuations

India faced a decline in its gems and jewellery exports by 4.62% in April compared to last year, as noted by GJEPC. While exports in cut diamonds and gold jewellery saw declines, the export of coloured gemstones grew by 11.95%. Silver jewellery exports experienced the largest drop of 12.03%.

India's gems and jewellery export sector faced a downturn in April, with overall exports decreasing by 4.62% to USD 2,037.06 million from last year's USD 2,135.7 million, according to the Gem and Jewellery Export Promotion Council (GJEPC) data.

Among the segments, exports of 'Cut and Polished' diamonds fell by 6.12% to USD 1,108.74 million, while gold jewellery exports decreased by 5.41% to USD 684.51 million. Meanwhile, the export of 'Polished Lab Grown Diamonds' showed a minimal decline of 0.41%.

Silver jewellery exports suffered a 12.03% decrease, marking the highest decline. Contrary to these trends, the export of 'Coloured Gemstones' experienced growth, rising by 11.95% to USD 27.76 million compared to the same period of the previous year.

(With inputs from agencies.)