Tuesday, June 25, 2024

India’s Gem and Jewelry Exports Decline in FY2024

Mumbai, India— India’s Gem & Jewelry Export Promotion Council (GJEPC) reported a decline in the country’s gem and jewelry exports for April 2024 and the fiscal year ending March 2024, as per data from Rough & Polished.

In April, gross exports of gems and jewelry fell by 11.4% year-on-year to $2.075 billion. Meanwhile, gross imports rose by 3.9% year-on-year to $1.891 billion. Polished diamond exports for the month dropped 16.8% to $1.155 billion, while imports of polished diamonds increased by 19.3% to $88.1 million.

Rough diamond imports for April totaled $1.191 billion, reflecting a 19.3% year-on-year decrease. Additionally, gross lab-grown diamond (LGD) exports fell significantly by 18.2% year-on-year to $83.77 million.

For the fiscal year April 2023 to March 2024, total gross exports of gems and jewelry saw a notable decline of 14.5%, amounting to $32.3 billion. Total gross imports also decreased by 13.8% to $22.3 billion. Polished diamond exports for FY2024 experienced a substantial drop of 27.6% year-on-year, totaling $15.967 billion.

Alice
Alice
Alice is a seasoned jewelry designer renowned for her exquisite creations that seamlessly blend artistry with elegance. With a passion for craftsmanship and an unwavering commitment to quality, Alice has established herself as a distinguished figure in the world of fine jewelry. Drawing inspiration from diverse cultures and artistic movements, Alice brings a unique perspective to her designs, creating pieces that transcend mere accessories to become timeless works of art. Her meticulous attention to detail and insistence on using only the finest materials ensure that each creation reflects not only her artistic vision but also a commitment to unparalleled craftsmanship. Having honed her skills through years of dedicated practice and a keen understanding of evolving trends, Alice is adept at translating her clients' desires into bespoke, one-of-a-kind pieces. Her portfolio encompasses a range of styles, from classic and timeless to avant-garde and contemporary, showcasing her versatility and ability to cater to a diverse clientele.

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