New Delhi : The country’s gems and jewellery exports contracted by around 5 per cent to $10.64 billion in April-July this fiscal, mainly on account of demand slowdown in major developed markets.
According to the Gems and Jewellery Export Promotion Council (GJEPC) data, exports stood at $11.2 billion in April-July period of 2017-18.
The labour-intensive sector contributes about 14 per cent to the country’s overall export.
The decline in shipments is mainly due to negative growth in the export of silver jewellery, gold medallions and coins, along with a rise in the return of consignments.