India’s December gems, jewellery exports up 29% against pre-pandemic 2019

India’s gem and jewellery exports during December 2021 grew 29.49 per cent to $3,040.92 million (Rs 22,914.6 crore) as compared to $2,348.44 million (Rs 16,712.46 crore) in December 2019 — the pre-pandemic year, the Gem and Jewellery Export Promotion Council said.

Besides, exports during April-December rose 5.8 per cent to $29,084 million from $27,500 during the same period of 2019.

“The holiday bounce has managed to offset part of the post-Diwali export slump when factories normally take a short break. Holiday and festive demand was robust in important trading centres such as the US, Hong Kong, Thailand, and Israel,” Council Chairman Colin Shah said.

“And we have every reason to believe that this momentum will carry through the end of FY 2022, bringing us closer to the set target of $41.67 billion in exports.”

Further, exports of cut and polished diamonds in December 2021 grew by 41 per cent to $1,770.61 million as compared to $1,253.79 million for the same period of 2019.

During April-December 2021, cut and polished diamond exports rose by 23 per cent to $18,007.24 million as compared to $14,666.23 million for the same period in 2019.

Gold exports during December 2021 remained largely steady at $778 million, the Council said.

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