(PRESS RELEASE) MUMBAI — For the cumulative period of April – September 2022, the overall gross exports of gem & jewelry witnessed a growth of 12.82% to Rs. 161545.06 crores (6.31% in dollar terms to US$ 20580.11 million) as compared to Rs. 143187.15 crores (US$ 19359.01 million) for the same period last year. With this the gem & jewelry sector has managed to achieve 45% of the total export target of USD 45.7 billion for the year 2022-23.
In September 2022, the gem & jewelry exports witnessed a growth of 27.17% to Rs. Rs. 30195.21 crores (16.66% in dollar terms to $ 3765.51 million) as compared to Rs. 23743.46 crores (US$ 3227.63 million) for the same period last year.
Vipul Shah, chairman, GJEPC said, “With a robust growth of gem & jewelry exports in September, the last quarter of the year is expected to be more fulfilling as sales will be driven by Holiday season and festivities. However, cut & polished diamond exports continue to remain flat, witnessing decline of 1.27% (in dollar) to US$ 12215.46 million for the period April to September 2022 as compared to the same period last year. On the other hand, Plain gold jewelry has continued to gain traction with average growth of 19.43% (in dollar) post the India-UAE CEPA. However, there are a few bottlenecks which if resolved would further boost the gem & jewelry trade between India and UAE. Lab-grown diamond exports continue to have a positive run, focused measures will further strengthen LGD exports from India.”
“The global consumer sentiments across key markets of USA, ME and HK have continued to be favorable for the sector. Thailand, Switzerland, Singapore have emerged as new growth markets. The sector has achieved 45% of its annual export target of USD 45.7 billion for the year 2022-23 and I am confident that if the current momentum continues in the 2nd half of the financial year, the sector is certain to achieve its set target.”
For the period of April – September 2022, the overall gross exports of Cut & Polished diamonds grew 4.71% to Rs. 95805.48 crores (fell 1.27% in dollar terms to US$ 12215.46 million) as compared to Rs. 91495.04 crores (US$ 12372.82 million) for the same period last year.
In September 2022, the overall gross export of Cut & Polished diamonds grew 21.99% to Rs. 17107.64 crores (11.97% in dollar terms to US$ 2134.91 million) as compared to Rs. 14023.78 crores (US$ 1906.72 million) in September 2021.
For the period of April to September 2022, the provisional gross export of total Gold Jewelry (plain & studded) increased 24.88% to Rs. 38939.62 crores (17.62% in dollar terms to US$ 4956.380 million) as compared to Rs. 31182.32 crores (US$ 4213.95 million) for the same period last year.
For September 2022, the total gross export of Gold Jewelry (plain & studded) witnessed a growth of 25.42% to Rs. 7067.17 crores (14.96% in dollar terms to US$ 880.25 million) as compared to Rs. 5634.86 crores (US$ 765.7 million) for the same period last year.
In the financial year-to-date (April to September 2022), provisional gross export of Plain Gold Jewelry grew 26.92% to Rs. 16395.42 crores (19.53% in dollar terms to US$ 2085.69 million) as compared to Rs. 12917.66 crores (US$ 1744.87 million) for the same period last year.
For September 2022, the total gross export of Plain Gold Jewelry witnessed a growth of 30.78% to Rs. 2556.40 crores (19.80% in dollar terms to US$ 318.36 million) as compared to Rs. 1954.78 crores (US$ 265.74 million) for the same last year.
For the period of April to September 2022, provisional gross exports of all kinds of Studded Gold jewelry surged 23.43% to Rs. 22544.21 crores (16.27% in dollar terms to US$ 2870.69 million) as compared to Rs. 18264.67 crores (US$ 2469.08 million) for the same period last year.
For the month of September 2022, the total gross export of all kinds of Studded Gold jewelry went up by 22.57% to Rs. 4510.77 crores (12.39% in dollar terms to US$ 561.89 million) as compared to Rs. 3680.08 crores (US$ 499.96 million) in September 2021.
In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds soared 70.26% to Rs. 7407.56 crores (60.55% in dollar terms to US$ 943.63 million) as compared to Rs. 4350.81 crores (US$ 587.76 million) for the same period last year.
During April 2022 to September 2022, provisional gross export of colored gemstones jumped 54.62% to Rs. 1642.93 crores (45.63% in dollar terms to US$ 209.27 million) as compared to Rs. 1062.57 crores (US$ 143.7 million) for the same period last year.
From April to September 2022, provisional gross export of Silver Jewelry increased 42.68% to Rs. 13735.07 crores (34.27% in dollar terms to US$ 1746.11 million) as compared to Rs. 9626.64 crores (US$ 1300.41 million) for the same period last year.
For the period of April 2022 to September 2022, provisional gross export of Platinum Jewelry grew 52.46% to Rs. 153.5 crores (43.32% in dollar terms to US$ 19.5 million) as compared to Rs. 100.68 crores (US$ 13.6 million) for same period last year.