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Gems, jewellery exports fall 37% to $30.52 billion in Apr-Jan: GJEPC

PTI     February 12, 2021

Gems and jewellery exports dipped 7.8 per cent in January to USD 2.7 billion as against $2.9 billion a year ago, according to data of the Gem Jewellery Export Promotion Council (GJEPC).

During April-January 2021, exports declined about 37 per cent to $19.24 billion as compared with $30.52 billion during the 10 months of 2019-20, the data showed.

Export of cut and polished diamonds (CPD) contracted 23.43 per cent to $12.5 billion during April-January this fiscal.

Gold jewellery shipments also dipped about 65 per cent to $3.55 billion.

However, overall gold jewellery exports for the first 10 months of the financial year rose 5.33 per cent to Rs 71,981.43 crore, from Rs 68,340.74 crore in the year-ago period.

Further, on the amended Gold Monetisation Scheme (GMS), GJEPC President Colin Shah said the revamped scheme is a win-win for all as it will unlock tonnes of unused gold in India.

"This will not only benefit the consumer, retailer and banks but the nation as well. This will drastically reduce the import of gold and will help the country with our current account deficit," he added.

Also read: Budget 2021: Cut customs duty on gold to 4%, withdraw tax at source, urges gems & jewellery industry

Also read: Budget 2021: Gold customs duty cut to reduce not just prices but also smuggling

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