Data released by the Ministry of Commerce and Industry shows that export gems and jewellery stood at $3.2 billion in January, growing by 13.8%, making the G&J sector the third-highest export performer during the month.

Overall, India's merchandise exports rose by 23.7% in January this year as compared to January 2021. Exports also rose by more than 31% percent as compared to January 2020, just before the pandemic struck.

Outbound trade rose to $34 billion in January, up from $25.85 billion in January 2020. However, export growth in the latest month came down from the 38.9% rise seen in December 2021.

Cumulatively, exports grew by 46.5 percent in the April-January period of FY22 (2021-22) as compared to the same period of 2020, to register total exports worth $335.4 billion. In 2019-20, only the last 2-months of which an economic downturn owing to the COVID pandemic, the cumulative exports over the corresponding period was $264 billion, the Ministry said.