India’s Gem & Jewellery Export Promotion Council (GJEPC) is optimistic about India’s exports of gems and jewellery to the US over the Christmas season, saying current figures signal they will be “encouraging”.
In a press release quoted by Gem Konnect, GJEPC cited “rising GDP growth, employment and private consumption expenditure in the US” as reasons for the organization’s holiday cheers. It added that in April-October 2018, India’s exports of gems and jewellery to the US grew 22.1% year-on-year to reach $5.43 billion. Gold jewellery exports in particular to the US grew 13.13% year-on-year to reach $981.85 million during the same period.
GJEPC said “it expects gem and jewellery exports from India to grow further over the holiday season” for several reasons, among them: US jewellery demand in the first three quarters of 2018 grew 5% year-on-year; overall imports of cut and polished diamonds during the first three quarters jumped 14.12% year-on-year to $18.55 billion; polished imports during the first three quarters grew 17.6% year-on-year to $7.71 billion.
