GJ Town India

  India’s C&P diamonds exports fall 27.93% in February   According to the available February 2024 statistics for Cut & Polished Diamonds exports & import of India say, that the import of Cut & Polished (C&P) diamonds enjoys a higher percentage over exports!    The overall gross export of Cut & Polished (C&P) diamonds at US$ 1707.44 million (Rs. 14162.59 crores) in month of February 2024 is showing a decline of 27.93%(-27.680% in Rs. Term) as compared to US$ 2369.1 million (Rs. 19582.38 crores) for the same period of previous year (YoY). The overall gross Imports of Cut & Polished diamonds at US$ 130.43 million (Rs. 1082.17 crores) in month of February 2024 is showing a growth of 70.62% (71.39% in Rs. term) as compared to US$ 76.44 million (Rs. 631.41 crores) for the same period of previous year.    The overall gross Imports of Cut & Polished diamonds in DTA at US$ 41.23 million (Rs. 342.1 crores) is showing a Growth of 12.12(12.69% Rs. term) as c

GJ export declines over 12% for February 2024! According to the sources, India’s Exim (Export-Import) for gem & jewellery tumbles equally over 15% for the period of April to February 2024. India’s overall gross exports of Gems & Jewellery (GJ) registered at US$ 3046.84 million (Rs. 25274.640 crores) in the month of February 2024 is showing a decline of 12.66%  (-12.34%in Rs. term) as compared to US$ 3488.51 million (Rs. 28832.86 crores) for the same period previous year.  The overall gross imports of Gems & Jewellery at US$ 2261.8 million (Rs. 18765.3 crores) in month of February 2024 is showing a growth of 1.12% (1.6% in Rs. term) as compared to US$ 2236.72 million (Rs. 18470.62 crores) for the same period previous year.  India’s overall gross exports for the period of April 2024 – February 2024, of Gems & Jewellery at US$ 29606.8 million (Rs.245132.66 crores) is showing a decline of 15.31% (-12.39% in Rs term) as compared to US$ 34958.91 million (Rs. 279806.68 crores)

H.E. Vipul, Inaugurates, GJEPC line-up of 17 exhibitors   The Doha Jewellery & Watches Exhibition (DJWE) is hosting a grand India Pavilion at its 20th edition, unveiling an extraordinary showcase of craftsmanship, tradition, and contemporary designs. The India Pavilion, spanning an impressive 216 square metres, features 17 exhibitors and 18 booths, presenting an unparalleled collection of Plain Gold, Studded Jewellery, and Diamond Studded Jewellery.    The 20th edition of the DJWE is being held at the Doha Exhibition & Convention Centre (DECC) from 5 - 11 February 2024.    H.E. Mr. Vipul, Ambassador of India to Qatar, said, “Our main job as the embassy is to promote Indian exports and facilitate trade between our two nations. As part of this effort, we actively promote Indian jewellery in Qatar. Doha Jewellery & Watches Exhibition (DJWE) represents a significant opportunity, and I am delighted to see the substantial Indian Pavilion present here.  Our close collaborati

The meet Interacted new emerging trends The Gem and Jewellery Export Promotion Council of India (GJEPC), the apex trade organization dedicated to promoting Indian gem and jewellery exports worldwide, organised the Gem and Jewellery Buyer Seller Meet (BSM) at ITC Grand Maratha, Andheri, Mumbai, on September 29th and 30th, 2023. This event is specifically designed to cater to international buyers from the U.S., the U.A.E., Egypt, Germany, Lebanon, Panama and Saudi Arabia, constituting a total of 30 buyers.  The Indian gem and jewellery manufacturers showcased an extensive array of offerings, which encompassed of finished diamond jewellery and loose diamonds among other products. The BSM hosted a diverse group, including top marquis, large chain retailers, wholesalers, importers, top designers, distributors, and retail jewelers from around the world. This event showcased a comprehensive view of the Indian jewellery industry, covering both the production and supply side, as well as consume

Cut & Polished diamonds export grew 32% in February! India’s gem and jewellery (GJ) exports witnessed a resurgence in February, buoyed by of both the Chinese and Middle East markets. In February 2023, the overall gem & jewellery exports witnessed a surge of 24% to Rs 28832.86 crores as compared to Rs 23326.80 crores for the same period last year. In February 2023, the overall gross export of Cut & Polished diamonds witnessed a strong growth of 32% to Rs 19582.38 crores as compared to Rs 14841.90 crores in February 2022. For February 2023, the total gross export of Gold Jewellery (Plain & Studded) grew 29.89% to Rs 5829.65 crores as compared to Rs 4488.30 crores for the same period last year.    Commenting on the surge in exports experienced during the month of February Vipul Shah, Chairman, GJEPC said, “GJEPC is excited about the strong pace of demand observed by Indian exhibitors at the recent Hong Kong show, which revealed the untapped demand in the Chinese market.  I

GJ exports grew by 33% during the June-Aug 2022 The India-UAE Comprehensive Economic Partnership Agreement (CEPA) which came into effect on the 1st of May 2022 is already creating a significant positive impact on India-UAE trade. Indian exports to the UAE, excluding petroleum products grew from US$ 5.17 billion during June-August 2021 to US$ 5.92 billion,  during June-August 2022, which denotes an increase of 14%. In the row Gem & jewellery (GJ) exports that grew by 33%. That registered exports during the June-Aug 2022 of US$ 1404.73 over the previous June-Aug 2021 of US$ 1053.33.   It is pertinent to note that India’s global non-petroleum exports during the same period (Jun-Aug 2022) grew by 3% on an annual basis. This implies the growth rate of India’s non-petroleum exports to the UAE is almost 5 times as that of India’s non-petroleum exports to the world.   Excluding petroleum related imports, Indian imports from the UAE during the same three-month period grew from US$ 5.56

India-UAE CEPA Comes Into Force from 1st May   The flagging off ceremony of India-UAE Comprehensive Economic Partnership Agreement (CEPA) was held at Customs House/Cargo Complex, New Delhi International Airport. The landmark agreement has come into force by flagging off the first three consignments of Jewellery from New Delhi to Dubai which would be getting zero duty market access.   The flagging off ceremony was presided by Commerce Secretary B.V.R. Subrahmanyam in the presence of Director General of Foreign Trade, Santosh Kumar Sarangi, Vipul Bansal, Joint Secretary, DoC and other senior officials from the Department of Commerce & Ashok Seth, Regional Chairman (North Region), GJEPC represented GJEPC at the event. Speaking at the event, B.V.R. Subrahmanyam said, “The India-UAE CEPA is the first comprehensive bilateral trade agreement in a decade and it will increase the flow of goods, services, investments, technology & work opportunities for our people, bringing strong mu

The Bank of England withdrawing legal tender status by 30 September 2022 The Bank of England will be withdrawing legal tender status of the paper £20 and £50 notes after 30 September 2022, and we are encouraging anyone who has these at home to spend or deposit them at their bank or Post Office.    There are approximately £7 billion worth of paper £20 and £10.5 billion worth of paper £50 notes still in circulation. As they are returned to the Bank of England, these are being replaced with the new polymer £20 notes featuring J.M.W. Turner, and polymer £50 notes featuring Alan Turing. After 30 September 2022, the new polymer notes will be the only ones with legal tender status. Once this deadline has passed, people will no longer be able to spend Bank of England paper notes in shops, or use them to pay businesses. People with a UK bank account will still be able to deposit withdrawn notes into their account. Some Post Offices may also accept withdrawn notes as payment for goods and se

Reached to US$ 8807.50 million in 2021 versus 2020   The industry is witnessing a surge in exports and domestic sales of gold jewellery (Plain & Studded) post pandemic. In the calendar year 2021, exports of gold jewellery grew by 50% to USD 8807.50 million as compared to USD 5876.39 million in 2020.   Exports of gold Jewellery Commodities All amounts are in US$ million Jan-Dec 2019 Jan-Dec 2020 % growth (2019 vs. 2020) Jan-Dec 2021 % Growth (2020 vs. 2021) Gold Jewellery 12306.66 5876.39 -52.25 8807.50 49.88 Plain Gold Jewellery 8906.48 3368.13 -62.18 3728.66 10.7 Studded Gold Jewellery 3400.18 2508.26 -26.23 5078.83 102.48             Colin Shah, Chairman, GJEPC said, “We are witnessi