Gem and jewelry exports rose 45.2 percent to Rs 31,241.09 cr in October, according to GJEPC

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Exports of gems and jewelry recover in October

New Delhi. India’s jewelry and gem exports increased 45.2 percent to Rs 31,241.09 crore in October due to strong demand from the US and other key markets. The Jewelery and Gems Export Promotion Council (GJEPC) released this information on Tuesday. Total gem and jewelry export stood at Rs 21,515.97 crore in October 2020. Colin Shah, President of GJEPC, said: “The overall sentiment from the gem and jewelry industry is quite positive. Manufacturing activities peaked in the pre-Diwali period. This is reflected in strong demand from other major markets, including the US.

Shah said: “I guess now the manufacturing activity will slow down as most of the businesses are closed for the Diwali holiday. However, I expect momentum to pick up in the final quarter of the financial year and we can meet our export target of $ 41.75 billion by 2021-22. ” Meanwhile, the total export of cut and polished diamonds in October increased by 47.90 percent to Rs 19,178.5 crore compared to Rs 12,966.89 crore in the same month of 2020. Total gold jewelry exports they grew 72.05 percent to 8,152.92 crore in October, down from 4,738.77 crore in the same period last year. Exports of silver jewelry (interim) increased 25.98 percent to Rs 11,331.52 crore in the first seven months of the current financial year, April-October, compared to Rs 8,994.9 crore in the same period of the year. last year.

The overall export of platinum jewelry during April-October grew 227.26 percent to 137.6 million rupees compared to 42.05 million rupees in the corresponding period of the last fiscal year. During this period, the export of colored gemstones increased by 105.39 percent to Rs 1,297.45 crore.

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