Geopolitical scenario pulls down India’s GJ exports!

 

India’s major export destination countries are in the state of uncertainty! 

According to the recently released India’s exports & Imports Statement, overall gross exports of Gems & Jewellery (GJ) stood at US$ 1986.21 million (Rs.16763.130 crores) in the month of November 2024 is showing a decline of 12.94% (-11.8% in Rs. term) as compared to US$ 2281.4 million (Rs. 19005.46 crores) for the same period previous year. 

The overall gross imports of Gems & Jewellery reached at US$ 1364.14 million (Rs. 11512.21 crores) in month of November 2024 is showing a growth of 35.0% (36.75% in Rs. term) as compared to US$ 1010.47 million (Rs. 8418.38 crores) for the same period previous year.

For the period of April 2024 to November 2024, India’s overall gross exports of Gems & Jewellery registered at US$ 18720.29 million (Rs.156781.31 crores) is showing a decline of 9.52% (-8.32% in Rs term) as compared to US$ 20688.95 million (Rs. 171016.64 crores) for the same period previous year.  

The overall gross imports of Gems & Jewellery at US$ 12936.858 million (Rs. 108287.76 crores) is showing a decline of 4.25% (-2.96% in Rs. term) as compared to US$ 13511.06 million (Rs. 111594.92 crores) for the same period previous year.  

According to the veteran, probably, global geopolitical scenario, India’s major export destination countries are facing higher rates of inflations, poor employment and uncertainties are taking a toll from India’s exports! 





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