Gems and jewellery exports grow by 5.76% in April-December 2021: GJEPC

The Gem and Jewellery Export Promotion Council (GJEPC) in its latest report has stated that gems and jewellery exports in the April-December 2021 period grew by 5.76 per cent to $29.08 billion on account of healthy demand in major countries including the US, Hong Kong and Thailand. It added that exports in December 2021 rose by 29.49 per cent to $3.04 billion.

GJEPC chairman Colin Shah said ‘Holiday and festive demand was robust in important trading centres such as the USA, Hong Kong, Thailand and Israel. And we have every reason to believe that this momentum will carry through the end of FY2022, bringing us closer to the set target of $41.67 billion in exports’.

The council said cut and polished diamond exports during April-December 2021 grew by 23 per cent to $18 billion. Similarly, gold jewellery exports during the period too rose by 25.41 per cent to $6.91 billion. Exports of plain and studded gold jewellery increased by 57.47 per cent to $2.83 billion and $4 billion during the nine-month period, respectively. Silver jewellery exports for the period April to December 2021 grew by 94 per cent to $1.96 billion.