Total Gross Exports of Gemstones & Jewelry from April 2021 to March 2022 was US$39.15 billion (GBP2.91.771.48 billion), representing a growth of 54.13% in dollars (55.75% in rupees ) compared to 87,333.68 crore) in FY21, the Gem & Jewelery Exports Promotion Council (GJEPC) said on Thursday.
In the month of March 2022, the total gross exports of gemstones and jewelry was $3,393.29 million (£25,872.83 billion), down 0.46% in dollar terms (a 4.33% growth in rupee terms) in This compares to $3,409.07 million (₹) means 24,798.33 crore) for the same period in FY21, the council said.
“India’s exports to global markets rebounded 54%, demonstrating the agility of India’s gems and jewelry pipeline in adapting quickly to an uncertain business environment marked by temporary COVID lockdowns and unprecedented surges in demand,” said Colin Shah, Chairman of GJEPC .
“With annual exports of US$39.15 billion, India’s gems and jewelry sector has delivered on its promise of contributing one-tenth to the country’s total export target of US$400 billion. Of the total gemstone and jewelry exports, the cut and polished diamond segment alone accounted for 62% or US$24,236.57 million, reflecting robust demand from the US, UAE, Belgium and Israel,” he said.
“Our industry has stood hand-in-hand with the export sector in general to meet the government’s target and some additional policy support needed could unlock the true potential of the industry,” Mr Shah added.
“Having recently signed trade agreements with the United Arab Emirates and Australia, India is poised to receive preferential access to gemstone and jewelry products in these important emerging markets,” he said.
