‘Gem, jewellery exports dropped 12.9% to $1,986 million in Nov’

new delhi: Gems and jewellery exports saw a decline of 12.94 per cent to $1,986.21 million (Rs 16,763.13 crore) in November on prolonged geopolitical tension, Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday.

Gems and jewellery exports in November 2023 stood at $2,281.4 million, the GJEPC data added.

Cut and polished diamonds export in November declined 39.81 per cent to $666.01 million compared to $1,106.53 million for the same period last year.

Provisional exports of polished lab grown diamonds during November declined 42.37 per cent to $62.88 million over $109.10 million for the

previous year.

However, the plain gold jewellery exports grew 72.12 per cent to $652.81 in November as compared to $379.27 million in the same period of the previous year.

“Prolonged geopolitical tension continues to remain a matter of concern for the Indian gems and jewellery industry, which has led to a slowdown in exports after seeing an uptick in the previous month,” GJEPC former chairman

Colin Shah said.