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India: Diamond Exports Grow in October 2021

The rise is owed to strong demand from key export destinations, especially the US
Gold Jewelry India
Credit: NadyaRa / shutterstock.com

Figures released by India’s Gem & Jewellery Export Promotion Council (GJEPC) and quoted by Diamond World show that gem and jewellery exports grew 16% in October 2021versus 2019, Diamond World reports.

 

India Gems Diamonds
Credit: David Talukdar / shutterstock.com

 

Overall gross exports of Gems & Jewellery in October totaled $4170.59 million, compared to $3610.07 million for the same period in 2019. During April – October 2021, the overall gross exports of gems & jewellery totaled $23658.13 million – a 4.82% rise compared to 2019.

 

Indian Jeweler
Credit: Kalcutta / shutterstock.com

 

Colin Shah, Chairman, GJEPC said: “The overall sentiment in the gem and jewellery industry is quite positive. Manufacturing activity peaked in the pre-Diwali period, reflected by the 16% jump in exports for October due to strong demand from key markets, led by the US. I estimate that this spike would be immediately followed by a dip in manufacturing activity as most companies closed for the traditional Diwali break. However, I am hopeful that the momentum will recover in the last quarter of the financial year, thus helping us to achieve our goal of USD 41.75 billion in exports for the year 2021-22.”



Tags: Diamonds News, Jewelry News, Diamond Industry News, Diamond Jewelry News, India News

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