Gem-jewellery exports fell 34.72 percent in June due to Corona
The country's gem and jewelry exports decreased 34.72 percent in June to $ 1.64 billion (approximately rupees 12,333 billion) as global demand declined due to the Kovid 19 crisis. The Export Promotion Council for Gemstones and Jewelry (GJEPC) shared this information. In June last year, the country's gem jewelry exports in June were $ 2.52 billion, or rupees $ 18,951 billion.
The sector accounts for 15 percent of the country's total exports. Because of the processing of the hand, it is an area where many people are employed. GJEPC chairman Colin Shah has imposed various restrictions since the spread of Kovid-19 infection. Due to the economic slowdown on a global level, the demand for gemstone jewelry and exports is continuously decreasing. However, demand is improving again in China, Europe and Australia.
Exports decreased 54.79 percent to $ 2.75 billion in the first quarter of the current fiscal year. In the April-June quarter of the previous fiscal year 2019-20, this figure was $ 6.07 billion. During this period, gold jewelry exports decreased 79 percent to $ 32.12 million. While exports of colored gemstones decreased by 80.56 percent. However, silver jewelry exports rose to $ 324.6 million in the same period last year, compared to $ 168 million in the same period last year. The country's gem and jewelry imports declined 74.81 percent to $ 911.5 million in the year-ago quarter.
While imports of unpolished diamonds decreased 82.7 percent to $ 48.16 million.