India’s Gem and Jewelry Exports Up 6% in April-May 2022
India’s gross exports of gem and jewelry for April-May grew 5.97% year-on-year in dollar terms to $ 6.65 billion. For May, gross exports of gems and jewelry grew 13.5% year-on-year in dollar terms to $3.28 billion, Diamond World reports.
Exports of Cut & Polished diamonds for April-May grew 0.52% in dollar terms to $4248.82 million. For May, exports of Cut & Polished diamonds grew 4.2% in dollar terms to $2089.17 million.
Gold jewelry exports (plain and studded jewelry) for April-May grew 22.48% in dollar terms to $1419.91 million. Silver jewelry exports for April-May declined 10.14% in dollar terms to $85.41 million.
Colin Shah, Chairman GJEPC, said, “I believe we’re witnessing India’s steady progress towards becoming the gem and jewellery manufacturer of choice for the rest of the world. For instance, the April to May 2022 period has seen consistent export growth to many of our key markets, including the US which accounted for US$ 2.58 billion, Hong Kong (US$ 1.38 billion), UAE (US$ 810.16 million), and Belgium ($441.37 million)[…].”