Letters: Compared to 2019, cutting and polished export in diamonds grew by 21% during the April to November 2021.
Industrial experts were optimistic to find growth rates a positive sign in the midst of a sad global pandemic scenario.
This year’s export of $ 16,236 million was recorded at $ 13,412 million in April to November 2019.
However, the export of gems and jewelry as a whole of the country witnessed a 7.65% decline for November.
The decline of $ 2,582 in 2019 to $ 2,385 this year was on cards because of the break in manufacturing activities during the Dewali Export Board, Jewel and Jewelry (GJEPK) stated.
Meanwhile, gold jewelry exports in April to November 2021 decreased by 27.76% to $ 6137.17 million compared to $ 8495.58 million in 2019.
Exports of ordinary gold jewelry in April to November 2021 decreased by 59.43 % to $ 2487.03 million in 2019.
However, it was encrusted gold jewelry exports in April to November 2021 grew by 54.33% to $ 3650.14 million against $ 2365.14 million in 2019.
“Indian gem and export gem Until 2021 it was far ahead of what we had expected at this time.
The good news is that the country that takes the largest jewelry in the world, the United States, has increased purchases from India this year, “said Colin Shah, Chairperson, Gjepc.
“We hope to achieve this fiscal $ 41.65 billion export target.
And we have recommended to the government some policy reforms to be considered in the UNI budget 2022-23.
This includes reducing import duty and polished diamonds, gold and other precious metals and other Amendments in taxation provisions to enable rough diamond sales in the special notification zone in Mumbai and Letters – this will help the industry to achieve the exports of the $ 70 billion target in the next few years, “Shah added.
Furthermore, silver jewelry exports in April to November 2021 grew 95.35% to $ 1691.86 million against $ 866.05 million in 2019.
21% increase in diamond exports
