Export of gems, jewellery dips 34.8% in June
However, we are seeing demand picking up in China, Europe and Australia,” said GJEPC chairman Colin Shah.
Published: 14th July 2020 08:03 AM | Last Updated: 14th July 2020 08:03 AM | A+A A-
An attendant cleans a jewellery item before display at a Tanishq showroom after Unlock 1.0
NEW DELHI: India’s gem and jewellery exports shrank by 34.72 per cent to $1.64 billion (around Rs 12,333 crore) in June, from $2.52 billion (Rs 18,951 crore) in the year-ago period, according to the Gems and Jewellery Export Promotion Council (GJEPC).
The fall in shipments was mainly due to negative growth in the export of gold jewellery, and coloured gemstones. “There has been a steady decline in exports as the demand has been going down following global economic slowdown and several restrictions in many countries to curb the spread of Covid-19 pandemic. However, we are seeing demand picking up in China, Europe and Australia,” said GJEPC chairman Colin Shah.