'Gems and jewellery exports grow by 27.17% to `30,195.21 cr in Sept'

Mumbai: India's gems and jewellery exports rose 27.17 per cent to Rs 30,195.21 crore ($3,765.51 million) in September compared to the same month last year, the Gem and Jewellery Export Promotion Council (GJEPC) said on Monday. The overall gems and jewellery exports stood at Rs 23,743.46 crore ($3,227.63 million) in September 2021, according to GJEPC data.

For the cumulative period of April-September 2022, the overall gross exports witnessed a growth of 12.82 per cent to Rs 1,61,545.06 crore ($20,580.11 million) compared to Rs 1,43,187.15 crore ($19,359.01 million) for the same period last year.

"The global consumer sentiments across key markets of the USA, Middle East and Hong Kong have continued to be favourable for the sector. Thailand, Switzerland, Singapore have emerged as new growth markets. The sector has achieved 45 per cent of its annual export target of $45.7 billion for the year 2022-23, and I am confident that if the current momentum continues, the sector will achieve its set target during the second half of FY23," GJEPC chairman Vipul Shah said.

Meanwhile, the overall gross export of Cut and Polished Diamonds (CPD) grew 21.99 per cent in September to Rs 17,107.64 crore ($2,134.91 million) against Rs 14,023.78 crore ($1,906.72 million) in the corresponding period of 2021.

In September, the total export of gold jewellery (both plain and studded) witnessed a growth of 25.42 per cent to Rs 7,067.17 crore ($880.25 million) against Rs 5,634.86 crore ($765.7 million) for the same period last year. The total gross export of plain gold jewellery witnessed a growth of 30.78 per cent to Rs 2,556.40 crore ($318.36 million) compared to Rs 1,954.78 crore ($265.74 million) for the same month last year.

For September, the total gross export of all kinds of studded gold jewellery went up by 22.57 per cent to Rs 4,510.77 crore ($561.89 million) compared to Rs 3,680.08 crore ($499.96 million) in September last year. During April-September, the provisional gross export of polished lab-grown diamonds soared 70.26 per cent to Rs 7,407.56 crore ($943.63 million) against Rs 4,350.81 crore ($587.76 million) for the same period last year.

The provisional gross export of coloured gemstones during April-September jumped by 54.62 per cent to Rs 1,642.93 crore ($209.27 million) against Rs 1,062.57 crore ($143.7 million) for the same month of FY22.

From April-September, provisional gross export of silver jewellery also witnessed a growth of 42.68 per cent to Rs 13,735.07 crore ($1,746.11 million) compared to Rs 9,626.64 crore ($1,300.41 million) for the same period last year.