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Gems and jewelery exports grew 6.5% in first 10 months of FY22, exports stood at $ 32.37 billion


New Delhi. During the first 10 months (April-January) of the current financial year 2021-22 (FY22), the country’s gems and jewelery exports grew by 6.5 percent to $ 32.37 billion. Industry body Gems and Jewelery Export Promotion Council (GJEPC) gave this information on Wednesday. Earlier, in the first 10 months of the last financial year (FY21), the gems and jewelery exports stood at $ 30.40 billion.

GJEPC said that the top 10 exporting countries in the first ten months of the current financial year are the United Arab Emirates (41.50 per cent), Belgium (15.81 per cent), Japan (12.20 per cent) and Hong Kong (3.06 per cent).

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The industry body said that the implementation of the Free Trade Agreement (FTA) with the UAE will help further boost the export of gold and gold studded jewellery. GJEPC has asked the government to take up the matter of abolishing the import duty of 5 per cent in UAE on export of gold, silver and platinum jewelery from India.

GJEPC said, “The Indian Gems and Jewelery export sector has shown rapid recovery after the corona virus pandemic with exports worth Rs 2.4 lakh crore so far. It has increased by 12.28 percent during April, 2021 to January, 2022. During April, 2020 to January, 2021, Rs 2.14 lakh crore was exported.

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Apart from this, gold jewelery exports declined by 24.24 per cent to $7.68 billion during April-January 2022, and general gold jewelery exports also declined by about 56 per cent to $3.2 billion.

Tags: export, Jewelery companies


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