The rise in gem and jewellery exports in November after a steep fall in October 2022, indicates the predicted resumption in manufacturing activity post the Diwali break. In November 2022, the gem and jewellery exports grew 11.83% to Rs19855.17 crores (2.05% in dollar terms to $ 2429.86 million) as compared to Rs17755.28 crores (US$ 2380.97 million) for the same period last year. For the cumulative fiscal year-to-date period of April – November 2022, the overall gross exports of gems and jewellery witnessed a growth of 8.26% to Rs208039.06 crores (1.29% in dollar terms to US$ 26243.85 million) as compared to Rs192161.85 crores (US$ 25910.10 million) for the same period last year.

Vipul Shah, Chairman, GJEPC said, “November is usually marked with resumption of manufacturing post the Diwali break that resulted in rise in gem and jewellery exports by 12%. The USA and Hong Kong remained the two biggest pillars of India's overall gem and jewellery export growth for the period of April to November 2022, accounting for USD 9211.39 million and USD 5781.90 million, respectively. The continuing positive streak of post-CEPA export growth to the UAE was maintained with a rise of 6.86% in April - November. With easing of Covid restrictions in China and the upcoming Chinese New Year, there may be hope on the horizon.”

In November 2022, the overall gross export of Cut and Polished diamonds grew 4.97% to Rs10202.54 crores (declined 4.17% in dollar terms to US$ 1248.41 million) as compared to Rs9719.72 crores (US$ 1302.78 million) in November 2021.

For the period of April – November 2022, the overall gross exports of Cut and Polished diamonds grew 1.00% to Rs121602.56 crores (fell 5.43% in dollar terms to US$ 15355.09 million) as compared to Rs120395.56 crores (US$ 16236.19 million) for the same period last year.

For November 2022, the total gross export of Gold Jewellery (Plain and Studded) grew 15.93% to Rs6097.64 crores (5.69% in dollar terms to US$ 746.03 million) as compared to Rs5259.91 crores (US$ 705.83 million) for the same period last year.

For the period of April to November 2022, the provisional gross export of total Gold Jewellery (plain and studded) increased 16.84% to Rs52288.04 crores (9.18% in dollar terms to US$ 6585.35 million) as compared to Rs44752.23 crores (US$ 6031.62 million) for the same period last year.

For November 2022, the total gross export of Plain Gold Jewellery grew 32.11% to Rs2581.48 crores (20.45% in dollar terms to US$ 315.85 million) as compared to Rs1954.02 crores (US$ US$ 262.23 million) for the same period last year.

In the financial year-to-date (April to November 2022), provisional gross export of Plain Gold Jewellery grew 20.84% to Rs21824.96 crores (12.91% in dollar terms to US$ 2748.56 million) as compared to Rs18060.94 crores (US$ 2434.23 million) for the same period last year.

For the month of November 2022, the total gross export of all kinds of Studded Gold jewellery grew 6.36% to Rs3516.15 crores (declined 3.03% in dollar terms to US$ 430.18 million) as compared to Rs3305.89 crores (US$ 443.61 million) in November 2021.

For the period of April to November 2022, provisional gross exports of all kinds of Studded Gold jewellery surged 14.13% to Rs 30463.09 crores (6.65% in dollar terms to US$ 3836.79 million) as compared to Rs. 26691.3 crores (US$ 3597.39 million) for the same period last year.

In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds grew 60.08% to Rs9743.28 crores (49.77% in dollar terms to US$ 1227.77 million) as compared to Rs6086.59 crores (US$ 819.76 million) for the same period last year.

During April 2022 to November 2022, provisional gross export of coloured gemstones jumped 41.32% to Rs2091.64 crores (32.20% in dollar terms to US$ 263.86 million) as compared to Rs1480.11 crores (US$ 199.59 million) for the same period last year.

From April to November 2022, provisional gross export of Silver Jewellery increased 37.98% to Rs17273.85 crores (29.05% in dollar terms to US$ 2177.62 million) as compared to Rs12518.78 crores (US$ 1687.38 million) for the same period last year.

For the period of April 2022 to November 2022, provisional gross export of Platinum Jewellery grew 28.81% to Rs198.89 crores (20.09% in dollar terms to US$ 25.02 million) as compared to Rs154.40 crores (US$ 20.83 million) for same period last year.

Highlights for the period of April to November 2022:

Provisional gross export of Plain Gold Jewellery grew 20.84% to Rs21824.96 crores

Provisional gross exports of all kinds of Studded Gold jewellery surged 14.13% to Rs 30463.09 crores

Provisional gross export of Silver Jewellery increased 37.98% to Rs17273.85 crores

Image courtesy pexels.com.