India's Gem and Jewellery Export Boom: A Sparkling November

India's gems and jewellery exports soared by 19.64% in November, reaching USD 2.5 billion. The increase was driven by demand from key markets like Hong Kong and the Middle East. Despite steady annual figures, specific sectors like Cut & Polished diamonds and silver jewellery showed significant growth.

India has reported a remarkable 19.64% increase in its gems and jewellery exports for November, totaling USD 2.5 billion, as revealed by the Gem and Jewellery Export Promotion Council (GJEPC).

While the overall April-November exports remained flat at USD 18.86 billion compared to the previous year, specific sectors saw notable growth. The gross export of Cut & Polished diamonds reached USD 919.74 million, significantly up from USD 666.34 million the prior year.

The demand surge was concentrated in markets like Hong Kong and the Middle East, even as the U.S. market remained subdued. This was coupled with a recovery in silver jewellery exports following supply chain restoration, according to GJEPC chairman, Kirit Bhansali.

(With inputs from agencies.)