(PRESS RELEASE) MUMBAI — The gem & jewelry exports to UAE have started showing positive impact post the Comprehensive Economic Partnership Agreement CEPA) with UAE. Post the implementation of India -UAE CEPA on 1st May, plain gold jewelry exports to UAE witnessed a growth of 72% to Rs. 1048.40 Crore in May 2022 and 68.65% to 1451.58 Crore in June 2022 as compared to Rs. 609.47 Crore in May 2021 and Rs. 860.73 Crore in June 2021 respectively. Total gem & jewelry exports to UAE, during April to June 2022 witnessed a growth of 10.09% to Rs. 9802.72 Crore as compared to Rs. 8904.08 Crore for the same period last year.
Apart from UAE, demand for gems & jewelry remained strong during the period of April to June 2022 from key markets like USA (Rs. 28,975 Crore), Hong Kong (Rs. 17,246 Crore), Belgium (Rs. 4,646 crore) and Israel (Rs. 2,854 Crore).
For the month of June 2022, India’s overall gross exports of Gems & Jewellery witnessed a growth of 21.41% to Rs. Rs. 25295.690 crore (14.5% in dollar terms to USD 3241.38 million) as compared to Rs. 20835.57 crore (USD 2830.79 million) in June 2021.
For the period of April to June 2022, the overall gross exports of gems & jewelry witnessed a growth of 14.6% to Rs. 77049.76 crore (9.59% in dollar terms to USD 9983.78 million) as compared to Rs. 67231.25 crore (US$ 9110.48 million) during April to June 2021.
Colin Shah, chairman, GJEPC said: “Plain gold jewelry exports have been the immediate beneficiary of the India-UAE CEPA. I would like to thank the Ministry of Commerce & Industry for supporting us with policy that is making a transformative difference and delivering results that are accelerating our momentum towards achieving $75 billion in exports. I urge all exporters to maximize their returns and make optimum use of the benefits available through this pact.”
For the month of June, the overall gross export of Cut & Polished diamonds witnessed a growth of 8.45% to Rs. 15737.26 crores (2.25% in dollar terms to USD 2016.71 million) as compared to Rs. 14510.48 crore (USD 1972.34 million) in June 2021.
For the period of April to June 2022, the overall gross exports of Cut & Polished diamonds witnessed a growth of 5.72% to Rs. 48347.19 crore (1.09% in dollar terms to US$ 6266.56 million as compared to Rs. 45731.37 crore (USD 6199.16 million) for the same period of previous year.
For the month of June 2022, the total gross exports of gold jewelry (plain & studded) witnessed a growth of 35.25% to Rs. 5641.28 crore (27.64% in dollar terms to USD 722.6 million) as compared to Rs. 4171.06 Crore (USD 566.11 million) in June 2021.
Provisional gross export of total Gold Jewelry (plain & studded) for the period APR 2022 – JUN 2022 witnessed a growth of 30.8% to Rs. 16694.2 crore (25.15% in dollar terms to USD 2162.50 million) as compared to Rs. 12763.27 crore (USD 1727.96 million) for the same period of previous year.
Provisional gross export of Plain Gold Jewelry for the period APR 2022 – JUN 2022 witnessed a growth of 32.58% to Rs. 6884.66 crores (26.77% in dollar terms to USD 890.42 million) as compared to Rs. 5192.98 crore (USD 702.4 million) for the same period of previous year.
Provisional gross export of all kinds of Studded Gold jewelry for the period APR 2022 – JUN 2022 witnessed a growth of 29.58% to Rs. 9809.54 crore (24.04% in dollar terms to USD 1272.08 million) as compared to Rs. 7570.3 crore (USD 1025.56 million) for the same period of previous year.
Provisional gross export of Silver Jewelry for the period APR 2022 – JUN 2022 witnessed a growth of 34.52% to Rs. 6258.23 crore (28.71% in dollar terms to 810.03 million) as compared to Rs. 4652.37 crore (USD 629.32 million) for the same period of previous year.
Provisional gross export of Colored Gemstones for the period APR 2022 – JUN 2022 witnessed a growth of 68.32% to Rs. 767.03 crore (60.94% in dollar terms to USD 99.4 million) as compared to Rs. 455.7 crores (USD 61.76 million) for the same period of previous year.
Provisional gross exports of polished Lab Grown Diamonds for the period APR 2022 – JUN 2022 witnessed a growth of 91.24% to Rs. 3669.09 crores (83.02% in dollar terms to USD 475.37 million) as compared to Rs. 1918.59 crore (USD 259.73 million) for the same period of previous year.