Figures released by India’s GJEPC (Gem and Jewellery Export Promotion Council) and quoted by Diamond World shows that, for the period of April – August 2022, overall gross exports gem and jewelry grew 4.4% year-on-year to $16695.56 million.
Total gold jewelry increased 18.8% to $3964.740 million for the same period, while gross export of silver jewelry increased 26.26% to $1354.91 million. Gross export of coloured gemstones jumped 42.81% to $162.68 million, and gross export of platinum jewelry grew 30.78% to $15.06 million. Gross export of polished lab-grown diamonds soared 55.68% to $765.86 million.
Vipul Shah, Chairman, GJEPC said, “Since the last two months, the cut & polished diamond exports have been largely affected due to slowdown in the Chinese economy caused by ongoing lockdowns. In addition, the Russia-Ukraine conflict is affecting diamond exports to some extent. However, the cumulative growth in gems & jewellery for the period April – August 2022 is attributed to the robust performance of plain gold jewellery and studded jewellery […] Moreover, silver and lab-grown diamonds continue with their strong growth due to high demand from the US and other major markets.”
