Jewellery exports fall 4.74% in November
Mumbai: Led by a steep 25.5 percent fall in cut and polished diamonds exports, the overall gems & jewellery exports fell 4.74 percent to Rs 18,136.2 crore in November year-on-year due to poor consumer sentiment in the key export markets.
In November 2018, the overall gems & jewellery exports stood at Rs 19,039.10 crore, according to data given by the Gems & Jewellery Export Promotion Council (GJEPC).
Overall exports declined by 4.85 percent to Rs 1,76,540.39 crore between April and November 2019 from Rs 1,85,543.57 crore a year ago.
The decline is mainly due to poor consumer confidence in the export markets, GJEPC said in a statement on Tuesday.
Cut and polished diamonds exports declined 25.49 percent to Rs 8,341.88 crore from Rs 11,195.52 crore in November 2018. The shipments of Cut and polished diamonds in the April-November period also dipped 18.21 percent to Rs 94,274.13 crore.
However, gold jewellery exports went up 21.33 percent to Rs 7,893.89 crore. Gold jewellery exports in the April- November period also saw 6.61 percent growth to Rs 59,688.59 crore from Rs 55,988.6 crore in April-November 2018.