A STRONG INCREASE IN GEM AND JEWELRY EXPORTS IN SEPTEMBER AFTER THE DISRUPTION OF COVID

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A STRONG INCREASE IN GEM AND JEWELRY EXPORTS IN SEPTEMBER AFTER THE DISRUPTION OF COVID
Date Submitted: 10/04/2020 07:53 AM

    During April-September 2021, the shipments surged by 134.55% to Rs 1,40,412.94 crore compared to the same period in 2020. The overall gems and jewelry exports stood at Rs 59,864.55 crore from April to September 2019, following Covid related disruptions, GJEPC said in a statement on Saturday.

    Gems and jewelry 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 (GJEPC). In September 2019, the shipments were worth Rs 23,491.20 crore.

    While in 2019, the overall gems and jewelry exports were at Rs 1,26,461.93 crore from April to September, GJEPC said.

    GJEPC chairman Colin Shah said "With Rs 140,412.94 crore (USD 18.98 billion) exports during April-September, the sector has already achieved nearly half (46%) of the USD 41.66 billion exports target set by the government for the sector. The sentiment in the industry is incredibly positive with markets opening up and demand gradually returning to normal".

    Moreover, with the festive season coming up, GJEPC is optimistic to achieve the export target by the end of the financial year, he added.

    During April-September 2021, Cut and Polished Diamond (CPD) exports grew by 122.62% to Rs 91,489.2 crore compared to Rs 41,095.83 crore in the same period of 2020.

    Gold jewelry exports during April-September 2021 surged by 262.66% to Rs 29,379.36 crore as against Rs 8,100.97 crore in the corresponding period of 2020.

    Silver jewelry shipments increased by 48.25% to Rs 9,477.39 crore in April-September compared to Rs 6,392.65 crore during April-September 2020, the GJEPC added.

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