The demand for gem and jewellery is back in major export markets, as the overall shipments of gems and jewellery surged to Rs 25,226.11 crore year-on-year in April 2021, according to Gem and Jewellery Export Promotion Council (GJEPC).
The overall gems and jewellery exports stood at Rs 273.41 crore during April 2020, when India as well as the major export markets were going through lockdowns to curb the spread of COVID-19, GJEPC data showed.
Exports of cut and polished diamonds (CPD) in April grew to Rs 16,538.84 crore as compared to Rs 261.19 crore in April 2020.
Gold jewellery shipments surged to Rs 5,060.23 crore compared to Rs 1.55 crore a year ago.
Silver jewellery exports rose to Rs 2,240.13 crore from just Rs 5.05 crore in April 2020.
Similarly, exports of coloured gemstone in April increased to Rs 163.66 crore against Rs 4.13 crore.
"The gem and jewellery exports in April in comparison to the pre-pandemic year of April 2019 have outperformed. The reason why India managed to export Rs 25,226.11 crore despite the ongoing second wave of the pandemic was unlike last time, this time there was no national lockdown imposed and in almost all our manufacturing locations, activity for export has been facilitated by the government," GJEPC Chairman Colin Shah said.
The key export markets have opened for economic and social activities and the industry is receiving good orders from these major export markets, he noted.
"Even the SEZs dedicated for gems and jewellery exports have been operational and are able to cater to the growing demand, especially in the US, UAE and China," Shah added.