GJ Town India

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...

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 export...