India's gems and jewellery export declines 11% during April to June

NEW DELHI (Scrap Monster) : The provisional figures released by the Gem and Jewellery Export Promotion Council, India (GJEPC) indicates that the total exports of gems and jewellery during the period of three months from April to June this year fell by nearly 11% year-on-year.

The GJEPC figures show that the total exports of gems and jewellery from the country during April-June timeframe this year amounted to Rupees 47,422.85 crores ($8,512.94 million), which is 11.13% lower than the total exports of Rupees 53,360.44 ($9,806.56) during April to June  2012. The above dollar figures are on the basis of the average dollar exchange rates as per the Reserve Bank of India (RBI).

The exports of cut and polished diamonds recorded a stable growth of 38.64% during April to June year-on-year. Gold jewellery exports through domestic tariff area (DTA) also saw a jump of 19.45% in comparison with the period from April to June the previous year. However, the exports of gold jewellery and gold medallions through Special Economic Zone (SEZ) / Export Processing Zone (EPZ) routes plummeted by 66.67%.

The exports of Colored gem stones and silver jewellery during April to June of this year shot up by 98.79% and 181.73% respectively. The exports of rough synthetic stones, rough pearls and platinum also grew slightly by 2.69% when compared to the exports during the same three months in 2012.

Rough diamond exports by the country also jumped 45.10% from INR 1,867.35 crores in Apri-June-12 to INR 2,709.55 crores in April-June -13.

The apex body of the Indian gem and jewellery industry states that the April-June 2013 figures are provisional and are subject to change. Moreover, the figures are exclusive of the data for costume/fashion jewellery and sales to foreign tourists.