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India's gems & jewellery exports fall over 3% in FY19
Apr-22-2019

Owing to the factors like credit crunch, delays in goods and services tax (GST) refunds, and high import duties on polished diamond, India’s gems & jewellery exports fell 3.12% during 2018-19 (FY19). According to the Gems and Jewellery Export Promotion Council (GJEPC) data report, gross gems and jewellery exports from India decreased to $39.68 billion in 2018-19 as compared to $40.96 billion in the previous year.

However, the report further noted that gross cut and polished diamond exports from India remained stable at $23.82 billion during 2018-19 as against $23.72 billion in the previous year. The Gems and Jewellery Export Promotion Council also mentioned that gold jewellery exports from India prevented a steep fall in exports, on account of growth in export at special economic zones (SEZs) and export-oriented units (EOUs).

Exports from special economic zones and export-oriented units witnessed a good jump in the gold jewellery segment, rising 24.36% to $12.03 billion in FY19 as compared to $9.67 billion in the previous year.

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