Gems & Jewelery Exports Top Pre-Covid Level | India Business News – Times of India

Surat: In a significant sign of improving market sentiment, the gems and jewelery industry reported a 5.76% growth in exports between April and December 2021 at $27,500.85 million (Rs 2,16,072.56 crore) as compared to pre-covid levels. but returned. 1,93,587.67 crore) for the same period in 2019.
Exports saw a decline of $16,487.64 million during the same period in 2020.


The sector registered a growth of 29.49% in exports in December 2021 as compared to the same month in 2019. December 2021 exports stood at $3,040.92 million (Rs 22,914.63 crore), up from $2,348.44 million (Rs 16,712.46) two years ago.
Gold jewelery exports have registered a modest, but significant increase – in a sector that has not been recovering for a long time since the first wave of the Covid-induced pandemic began. As against $775.36 million in 2019, exports touched $778.04 million in December 2021, which declined to $502.59 million earlier.
It is to be noted that gold jewelery exports were $9,270.94 million between April and December 2019 which declined to $3,065.88 million in 2020 and to $6,915.21 in 2021. The growth is 25.41% less as compared to 2019.
“India’s performance in the crucial Christmas quarter limited a stellar year for the gems and jewelery industry. The boom in holidays has managed to offset part of the post-Diwali export slowdown, when factories usually take a short break,” said Colin Shah, President, GJEPC,
“Holiday and festive demand was strong in important business centers including the US, Hong Kong, Thailand, and Israel. And we have every reason to believe that this momentum will continue till the end of FY 2022, bringing us closer to the set target of $41.67 billion in exports,” Shah said.