India Plain Gold Jewellery Exports up 20.98% in 9MFY23: GJEPC

India Plain Gold Jewellery Exports up 20.98% in 9MFY23: GJEPC

New Delhi: Post India-UAE CEPA, India’s Plain Gold Jewellery Exports for April-December 2022 (9MFY2023), up 20.98% to Rs 24,242 .91 crore, the Gem and Jewellery Export Promotion Council (GJEPC).

This shows that the recently signed Free Trade Agreement between the country and the United Arab Emirates is boosting India’s gem and jewelry exports. By December 2022, the total gross export of plain gold jewelry increased by 21.31% to Rs.2,369.74 billion (10.97% in dollars to $287).

46 million) compared to 1,953.46 million ($259.05 million) in the same period last year, GJEPC added. In the current fiscal year from April to December 2022, the total gross exports of gemstones and jewelry recorded a growth of 6.28% to Rs. 227,534.

Rs 50 crore (down 0.73% in dollar terms to US$28,608.22 million) compared to Rs 214,087.94 crore (US$28,819.88 million) in the same period last year.

In December 2022, total exports of gems and jewelry recorded a decrease of 11.25% to Rs 19,432.88 billion (a decrease of 18.90% in dollar terms to USD 2,356.70 million) compared to Rs 21,896.

46 crores ($2905.79 million) for the same period last year. Vipul Shah, Chairman of GJEPC, said in a statement: “The total gemstone and jewellery exports from April to December 2022 show a positive trend, but the December export figures reflect the global headwinds that the gemstone industry and jewelry are facing in relation to the… Exposed to inflation and talking about a US recession scenario. The launch of CEPA India-UAE has led to

Exponential growth in plain gold jewelry exports to fill the gap in exports to key markets such as the US and Hong Kong. Total exports for 9MFY23 (Apr-Dec) show positive growth of 6.28% in Rs. Pure gold jewelry exports recorded positive double-digit export growth of around 21% in both December 2022 and 9MFY23.

For the April-December 2022 period, total gross exports of cut and polished diamonds (CPD) decreased by 1.24% to Rs 132,075.47 (down 7.67% in dollar terms to $16,625.45 million) compared at Rs.133,737.

22 million rupees ($18,006.79 million) for the same period last year. According to the main industry association, the conflict between Ukraine and Russia has started to affect cut and polished diamond (CPD) exports, which have seen a 40 percent drop in rough diamonds. Import of diamonds from Russia in 6 months from March 2022. The decrease in imports in the first 6 months of this fiscal year resulted in an overall decrease in CPD and total exports of gemstones and jewelry in the month of December. In December 2022, the total gross export
of cut and polished diamonds decreased by 21.

50% at 10,472.92 cr. Rs (down 28.25% in dollars at $1,270.36 million) compared to 13,341.66 Cr. Rs ($1,770).

61 million) in December 2021. During the period April-December 2022, the preliminary gross export of the total gold jewelry (plain and studded) increased by 14.81% to Rs.56,984.60 million (7.13% in dollars, up to $7,155). .

30 million) compared to Rs 49,635.03 crore (USD 6,678.91 million) in the same period last year. By December 2022, the total gross export of gold jewelry (plain and studded) fell by 4.55% to Rs.4,635.

Rs 64 crore (down 12.62% in dollars to US$562.48 million) compared to Rs 4,856.47 crore (US$643.74 million) in the same period last year.

For the period April-December 2022, the preliminary gross exports of all types of gold-studded jewelry increased by 10.63% to Rs 32,741.69 (3.29% in USD to $4,113.37 million) compared to Rs 29,596.70 ($3,982.41 million) for the same period last year.