GJ Town India

Bharat’s Studded Gold Jewellery exports grew 15.57% in December’24   According to the available provisional statistics pertaining to India’s export & import of Gem & Jewellery (GJ) for the month of December 2024 & also for the  for the April to December 2024, India is registering growth in the category.   India’s total gross export of Gold Jewellery at US$ 868.03 million (Rs. 7374.41 crores) in month of December 2024 is showing a decline of 3.56% (-1.63% in Rs. term) as compared to US$ 900.11 million (Rs. 7496.27 crores) for the same period of previous year. Provisional gross export of Total Gold Jewellery for the period April to December 2024 at US$ 8072.140 million (Rs. 67742.11 crores) shown a growth of 2.23% (3.58% Rs. term) over the comparative figure of US$ 7896.15 million (Rs. 65398.73 crores) for previous year.    The total export of Plain Gold Jewellery at US$ 461.48 (Rs. 3920.88 crores) in month of December 2024 is showing a Decline...

SMEs  exporting via courier mode with TDI delivery!   DHL Express, the world’s leading international express services provider, has signed a Memorandum of Understanding (MoU) with the Gems and Jewellery Export Promotion Council (GJEPC) to ship India-crafted jewellery via courier mode, leveraging DHL’s time-definite international (TDI) delivery service.    As the first international logistics provider to sign MoU with GJEPC, DHL will support local jewellery and gem makers to broaden their footprint and increase revenue. The GJEPC is an apex body of the gem and jewellery industry under the Ministry of Commerce, Government of India.    “India’s gems and jewellery industry is a vibrant export segment. Our product offering for exporting fine jewellery shipments addresses critical pain points for local exporters through our trusted, seamless, and cost-effective shipping solution. Through this partnership, we are simplifying international shipping and providing je...

GJEPC India is attempting to add export destinations to mitigate fall!   According to the available Gem & Jewellery exports of India for the period of November 2024 and cumulatively also for the period of April 2024 to November 2024, overall gross export of Cut & Polished diamonds at US$ 666.01 million (Rs. 5622.11 crores) in month of November 2024 is showing a decline of 39.81%(-39.010% in Rs. Term) as compared to US$ 1106.53 million (Rs. 9217.88 crores) for the same period of previous year.   Global diamond market is seized by geopolitical uncertainties and economic weaknesses are capable enough to tumble cut & polished diamond exports of India. Although GJEPC India is attempting to add more export destinations to mitigate fall. Prudent leadership of the council is leaving no stone unturned in the sync of the ongoing government’s ease of doing business initiatives!   The overall gross Imports of Cut & Polished diamonds at US$ 54.03 million ( ...

  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 ...

Indian Gems & Jewellery exports-Imports witnessed a contraction   According to data released by the Gems and Jewellery Export Promotion Council (GJEPC), the apex body for the Gems & Jewellery (GJ) Industry in India, the overall gross exports of Gems & Jewellery in July 2024, stood at USD 1665.4 million (Rs. 13922.03 crores) showing a decline of 23.28% compared to USD 2170.71 million (Rs. 17831.68 crores) for the same period last year.   The trend line for Indian gems & jewellery has been on a continuous downwards trajectory and this is majorly owing to the global unrest-induced dampening of consumer demand. With the looming uncertainty of unprecedented geo-political developments and its impact on global economy, consumer markets across the globe are taking cautious buying decisions.   In terms of the overall imports of Gems & Jewellery for July 2024, the sector has witnessed a decline of 16.59%, which stood at USD 1404.62 million (Rs. 11738...

Gold and silver's CPI soften over steady fed rate   At the juncture Colin Shah, MD, Kama Jewelry said, “The decision by the US Fed to keep the policy rate intact for the seventh consecutive time comes as per the industry expectations. Although the inflation has cooled down, it has still not come under the Fed’s expected range, thereby deferring the possibility of three rate cuts, which we could have possibly seen during this calendar year.   As per the forecast by Fed, it has hinted that it may start slashing rates from next year onwards wherein a rate cut of 100bps is in focus. However, we will have to wait and watch how the inflation numbers play out, which will further decide the possibility of rate cuts next year.   Gold prices saw some softness post Fed’s announcement in domestic market. Since Q2 of financial year is usually a dull phase due to monsoon and shraadh, we expect the prices to remain dampened during this period. Nevertheless, we hope for the demand ...

Silver Jewellery exports also grew 22.47% for April-May   India's gems and jewellery (GJ) sector continues to demonstrate resilience and growth, as highlighted by the latest export performance data for the period of April to May 2024. The overall gross exports of Gems & Jewellery during this period amounted to US$ 4691.58 million (Rs. 39123.07 crores), showcasing a commendable performance.   While this reflects a slight decline of 5.94% (-4.56% in Rs. term), the sector's ability to maintain such significant figures amidst global economic fluctuations underscores its stability and adaptability. In specific segments, while Cut & Polished Diamonds experienced a decline of 15.54% to US$ 2627.09 million (-14.32% to Rs. 21906.44 crores), other categories such as Gold Jewellery (Plain & Studded) and Silver Jewellery witnessed remarkable growth.   Commenting on the performance, Vipul Shah, Chairman, GJEPC said, "India's gems and jewellery sector has shown rem...

Strived to educate jewellers to explore benefits under CEPA All India Gem & Jewellery Domestic Council (GJC) organised the first of its kind one-day seminar to educate Indian jewellers about the benefits in jewellery exports under the Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE). The seminar organised on Wednesday, 29th May 2024, at Hyatt Regency Dubai, and was attended by over 100+ jewellers from across India and prominent importers from the UAE.   India signed an exclusive CEPA agreement with the UAE in March 2022 to boost gems and jewellery exports at lower duty. As per the agreement, the import duty on jewellery exports to UAE from India has been reduced from 5 per cent to ‘nil’. There were four panel discussions organised during the seminar where panellists elaborated benefits of India’s gems and jewellery exports to the UAE, and the potential forward.   Nilesh Shobhawat, GJC NextGen Convener, delivered the welcome address an...

  Jump high 27.45% reaching US$ 342.27mn in April   The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year.   The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period the previous year. However, the total gross export of Gold Jewellery (both plain and studded) saw a promising 11.03% growth, reaching USD 718.34 million in April 2024 compared to USD 646.97 million in the same period the previous year.   Vipul Shah, Chairman of GJEPC, commented, “Plain gold jewellery has shown remarkable growth in exports, especially since the UAE Comprehensive Economic Partnership Agreement (CEPA). We are pleased that it continues to play a significant role in the gem and jewellery industry.  With the benefits expected from the Free Trade Agreement (FTA)’s sign...

Cut & Polished diamonds plunge 16.76% in April   According to the provisional statistics of GJEPC pertaining to export/import of Gem & Jewellery (GJ) for the period April 2024 - April 2024 as compared to same period last year.     The overall gross exports of Gems & Jewellery at US$ 2074.85 million (Rs. 17307.280 crores) in the month of April 2024 is showing a decline of 11.37% (-9.85% in Rs. term) as compared to US$ 2341.06 million (Rs. 19198.4 crores) for the same period previous year. The overall gross imports of Gems & Jewellery at US$ 1891.49 million (Rs. 15772.69 crores) in month of April 2024 is showing a growth of 3.95% (5.72% in Rs. term) as compared to US$ 1819.54 million (Rs. 14919.69 crores) for the same period previous year.    The overall gross export of Cut & Polished diamonds at US$ 1154.8 million (Rs. 9632.7 crores) in month of April2024 is showing a decline of 16.76%(-15.340% in Rs. Term) as compared to US$ 1387.38 ...

  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 o...