INDIAN GEM & JEWELLERY EXPORTS RISE 12.82% TO RS. 161545.06 CRORES IN APRIL – SEPTEMBER 2022

10th October 2022

For the period of April – Sep 2022: Gross exports of Cut & Polished diamonds grew 4.71% to Rs. 95805.48 crores, Gross export of Plain Gold Jewellery grew 26.92% to Rs. 16395.42 crores, Gross exports of all kinds of Studded Gold jewellery surged 23.43% to Rs. 22544.21 crores.

For the cumulative period of April – September 2022, the overall gross exports of gem & jewellery witnessed a growth of 12.82% to Rs.  161545.06 crores (6.31% in dollar terms to US$ 20580.11 million) as compared to Rs. 143187.15 crores (US$ 19359.01 million) for the same period last year. With this the gem & jewellery sector has managed to achieve 45% of the total export target of USD 45.7 billion for the year 2022-23.

In September 2022, the gem & jewellery exports witnessed a growth of 27.17% to Rs. Rs. 30195.21 crores (16.66% in dollar terms to $ 3765.51 million) as compared to Rs. 23743.46 crores (US$ 3227.63 million) for the same period last year.  

Vipul Shah, Chairman, GJEPC said, “With a robust growth of gem & jewellery exports in September, the last quarter of the year is expected to be more fulfilling as sales will be driven by Holiday season and festivities. However, cut & polished diamond exports continue to remain flat, witnessing decline of 1.27% (in dollar) to US$ 12215.46 million for the period April to September 2022 as compared to the same period last year. On the other hand, Plain gold jewellery has continued to gain traction with average growth of 19.43% (in dollar) post the India-UAE CEPA. However, there are a few bottlenecks which if resolved would further boost the gem & jewellery trade between India and UAE. Lab-grown diamond exports continue to have a positive run, focused measures will further strengthen LGD exports from India.” 

“The global consumer sentiments across key markets of USA, ME and HK have continued to be favourable for the sector. Thailand, Switzerland, Singapore have emerged as new growth markets. The sector has achieved 45% of its annual export target of USD 45.7 billion for the year 2022-23 and I am confident that if the current momentum continues in the 2nd half of the financial year, the sector is certain to achieve its set target.”

For the period of April – September 2022, the overall gross exports of Cut & Polished diamonds grew 4.71% to Rs. 95805.48 crores (fell 1.27% in dollar terms to US$ 12215.46 million) as compared to Rs. 91495.04 crores (US$ 12372.82 million) for the same period last year.

In September 2022, the overall gross export of Cut & Polished diamonds grew 21.99% to Rs. 17107.64 crores (11.97% in dollar terms to US$ 2134.91 million) as compared to Rs. 14023.78 crores (US$ 1906.72 million) in September 2021.

For the period of April to September 2022, the provisional gross export of total Gold Jewellery (plain & studded) increased 24.88% to Rs. 38939.62 crores (17.62% in dollar terms to US$ 4956.380 million) as compared to Rs. 31182.32 crores (US$ 4213.95 million) for the same period last year.

For September 2022, the total gross export of Gold Jewellery (plain & studded) witnessed a growth of 25.42% to Rs. 7067.17 crores (14.96% in dollar terms to US$ 880.25 million) as compared to Rs. 5634.86 crores (US$ 765.7 million) for the same period last year.

In the financial year-to-date (April to September 2022), provisional gross export of Plain Gold Jewellery grew 26.92% to Rs. 16395.42 crores (19.53% in dollar terms to US$ 2085.69 million) as compared to Rs. 12917.66 crores (US$ 1744.87 million) for the same period last year.

For September 2022, the total gross export of Plain Gold Jewellery witnessed a growth of 30.78% to Rs. 2556.40 crores (19.80% in dollar terms to US$ 318.36 million) as compared to Rs. 1954.78 crores (US$ 265.74 million) for the same last year.

For the period of April to September 2022, provisional gross exports of all kinds of Studded Gold jewellery surged 23.43% to Rs. 22544.21 crores (16.27% in dollar terms to US$ 2870.69 million) as compared to Rs. 18264.67 crores (US$ 2469.08 million) for the same period last year.  

For the month of September 2022, the total gross export of all kinds of Studded Gold jewellery went up by 22.57% to Rs. 4510.77 crores (12.39% in dollar terms to US$ 561.89 million) as compared to Rs. 3680.08 crores (US$ 499.96 million) in September 2021.

In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds soared 70.26% to Rs. 7407.56 crores (60.55% in dollar terms to US$ 943.63 million) as compared to Rs. 4350.81 crores (US$ 587.76 million) for the same period last year.

During April 2022 to September 2022, provisional gross export of coloured gemstones jumped 54.62% to Rs. 1642.93 crores (45.63% in dollar terms to US$ 209.27 million) as compared to Rs. 1062.57 crores (US$ 143.7 million) for the same period last year.

From April to September 2022, provisional gross export of Silver Jewellery increased 42.68% to Rs. 13735.07 crores (34.27% in dollar terms to US$ 1746.11 million) as compared to Rs. 9626.64 crores (US$ 1300.41 million) for the same period last year.

For the period of April 2022 to September 2022, provisional gross export of Platinum Jewellery grew 52.46% to Rs. 153.5 crores (43.32% in dollar terms to US$ 19.5 million) as compared to Rs. 100.68 crores (US$ 13.6 million) for same period last year.