GEM & JEWELLERY EXPORTS FALL 10.7% TO RS 22,693.41 CRORE IN MAY

15th June 2023

The Gem Jewellery Export Promotion Council (GJEPC) released data indicating a noteworthy 10.7% decrease in gems and jewellery exports during the month of May, amounting to Rs 22,693.41 crore (USD 2,755.90 million). Comparatively, the exports in May of the previous year stood at Rs 25,412.66 crore (USD 3,285.47 million).

The GJEPC data further highlights a significant 12.17% decline in the export of cut and polished diamonds (CPD) during May, with figures falling to Rs 14,190.28 crore (USD 1,723.17 million) from Rs 16,156.04 crore recorded in the corresponding month of the preceding year.

Likewise, the export of polished Lab Grown Diamonds experienced a considerable decrease of 20.57% during April and May, amounting to Rs 1,985.83 crore (USD 236.08 million), compared to Rs 2,499.95 crore (USD 325.45 million) in the initial two months of the previous financial year.

Conversely, there was a notable 7.29 percent growth in the total exports of gold jewellery in May, reaching Rs 5,705.32 crore (USD 693.01 million), as opposed to Rs 5,317.71 crore (USD 687.18 million) during the corresponding period last year.