GJ Demand Scenario in US is Optimistic
India’s exports of Gem and Jewellery (GJ) products is expected to be encouraging in USA market during the upcoming Christmas time majorly backed by rising GDP growth, employment rate and private consumption expenditure in the country. This would be well in line with positive growth of India’s exports of cut and polished diamonds and gold jewellery to USA during the current FY2018 (April-October). India’s exports of cut and polished diamonds grew by around 22.10% (y-o-y) from US$4.45 billion recorded during April-Oct 2017 to US$5.43 billion in April-Oct 2018. Exports of gold jewellery to USA market also witnessed an impressive growth of 13.13% from US$867.87 million registered during April-October 2017 to US$981.85 million in April-Oct 2018. Since, Jewellery demand in USA has rebounded, India’s exports of G&J products are likely to grow further in the coming months also. Table -1 India’s Export of Cut & Polished Diamonds and Gold Jewellery to USA: Mon...