Gems, jewellery exports dip 8.45% to Rs 21,146.59 cr in Jan

Mumbai: Gems and jewellery exports witnessed a 8.45 per cent decline in January to Rs 21,146.59 crore as against Rs 23,099.57 crore a year ago, the Gem Jewellery Export Promotion Council (GJEPC) said.

During April 2019 to January 2020, exports declined 4.78 per cent to Rs 2,16,076.06 crore as compared with Rs 2,26,933.91 crore during the first 10 months of 2018-19. Similarly, export of cut and polished diamonds (CPD) declined 4.92 per cent in January to Rs 11,757.08 crore from Rs 12,365.89 crore in the same month of 2019.

CPD exports in the first 10 months of FY20 (April-January) dipped 16.04 per cent to Rs 1,14,982.97 crore from Rs 1,36,941.69 crore during April 2018 to January 2019. Gold jewellery shipment in January also fell 2.21 per cent to Rs 6,337.12 crore from Rs 6,480.26 crore in January 2019.

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 same period of previous financial year.

"The downward trend in exports continues. We hope for some policy respite soon. We also expect amendments in e-commerce policy, comprehensive gold policy and the SEZ Act. We have requested the government to take steps so that the industry can recover and be competitive globally," GJEPC Vice President Colin Shah said.