India’s plain gold jewellery exports up 61.72%
The UAE rose to 107.2% in FY 2023-24 Emerged as a significant market for India exports! For the FY 2023-24, exports of Plain Gold Jewellery surged by an impressive 61.72% to US$ 6792.24 million as compared to US$ 4199.96 million in FY 2022-23. Total Gold jewellery (plain & studded jewellery), which experienced a 10.47% decline between April 2023 to September 2023, rebounded strongly in the latter half of the year, achieving a growth of 46.91%. The UAE emerged as a significant market for plain gold jewellery exports from India, experiencing remarkable growth of 107.2% to reach USD 4,528.66 million in FY 2023-24, compared to USD 2,185.67 million in the previous year. Markets of UAE & Bahrain accounted for over 85% of India’s plain gold jewellery exports. Australia also witnessed a growth of 37% in plain gold jewellery exports attributing its growth to the India-Australia ECTA. Speaking about the increase in plain gold jewellery exports, Vipul Shah, Chairman, GJEP