Mumbai: Gems And Jewelry Exports: The country’s gems and jewelry exports declined by 82.31 percent to Rs 4,328.54 crore during April-May of the current financial year. The Gems and Jewelry Export Promotion Council (Gems and Jewelry Export Promotion Council-GJEPC) has given this information. Due to the spread of Coronavirus Epidemic, there has been a huge decline in the export of gems and jewelry due to the lockdown worldwide.
Some improvement in demand in China, Europe and Australia The exports of gems and jewelry
during April-May 2019 stood at Rs 24,468.11 crore. GJEPC Vice Chairman Colin Shah said that exports have been affected due to the lockdown globally. Now demand is improving in China, Europe, and Australia. Shah said that the impact of this epidemic is still prevalent in most of the Gulf countries and America. The state of the industry is slowly improving, but of course, we are complying with all safety regulations. Meanwhile, according to the data, exports of cut and polished diamonds fell by 77.42 percent to Rs 2,943.18 crore in April-May, from Rs 13,033.41 crore in the same months last year.
The exports of gold jewelry declined by 92 percent.
Similarly, the export of gold jewelry fell by 92 percent to Rs. 634.38 crore from Rs. 7,927.47 crore. Exports of colored gems fell 92.90 percent to Rs 28.98 crore from Rs 408.45 crore in the year-ago period. However, the exports of silver jewelry during this period increased by 5.46 percent to Rs 647.74 crore, from Rs 614.21 crore in April-May, 2019.