India’s Gem and Jewellery Exports Fall by 8% in First Six Months of FY2020

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India’s overall exports of gems and jewellery dropped by 7.82% in the first six months of FY2020, with exports of cut and polished diamonds dropping by 18.84% and of gold jewellery (plain and studded) showing a marginal 0.67% decline over the same period, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

For the first six months of the current fiscal, total net exports of the gems and jewellery industry stood at US$ 18.88 billion as compared to US$ 19.79 billion in the same period of the previous year, a decline of 7.82%. Imports across the sector during first half of fiscal 2020 were down 10.39% from US$ 13.58 billion last year to US$ 12.17 billion this year.

Polished diamond exports during April-September 2019 were down 18.84% to US$ 10.29 bn as against the US$ 12.68 bn exported over the same months last year, while imports of polished diamonds fell by 18.20% to US$ 628.70 million as compared to US$ 768.60 million for the same period of the previous year.

During the fiscal year to date, import of rough diamonds showed a decline of 22.51% to US$ 6.52 bn from US$ 8.42 bn a year earlier. In volume terms, imports fell by 11.38% from 84.66 mn cts in April-September 2018 to 75.02 mn cts in the same period in the current fiscal.

In April-September 2019, exports of gold jewellery (both plain and studded) dipped marginally by 0.67% to US$ 6.12 bn as against US$ 6.16 bn during the first six months of the previous fiscal.

Exports of rough diamonds totalled US$ 614.98 million in April-September 2019 as compared to US$ 603.14 mn a year earlier, while exports of rough lab grown diamonds stood at US$ 6.77 mn in April-September 2019 as against US$ 5.74 mn in the same period a year earlier. Exports of polished lab-grown diamonds stood at US$ 200.33 mn during the April-September 2019 period as against US$ 96.96 mn a year earlier.

Imports of rough lab grown diamonds stood at US$ 74.45 mn in the first six months of the fiscal, up from imports of US$ 65.03 mn a year ago, while imports of polished lab grown diamonds rose to US$ 121.19 mn in April-September 2019 as compared to US$ 36.62 mn a year earlier.

Exports of silver jewellery rose steeply to US$ 561.06 million from US$ 323.22 mn a year ago, and Coloured Gemstones exports dropped to US$ 178.94 million in April-September 2019 as compared to exports of US$ 207.59 mn in the same months a year earlier.

Trade continued to be slow during the last month of the first half of the financial year. While cut and polished diamond exports declined by 17.82% year-on-year totalling US$ 1.95 billion during the month (September 2018: US$ 2.37 bn), gold jewellery (plain and studded) exports were up by 12.90% y-o-y touching US$ 1,019.65 million during September 2019 as against US$ 903.11 million in the same month a year ago, the data indicated.

Rough imports during the month fell by 7.88% to US$ 1.16 billion as compared to US$ 1.25 billion imported during the previous September. In volume terms, rough imports fell by 5.78% from 16.1 mn carats during September 2018 to 15.17 mn carats in September 2019.

Imports of cut and polished diamonds declined 24.62% to US$ 122.77 mn in September 2019 from US$ 162.86 mn in the same month a year earlier.

Exports of rough diamonds totalled US$ 51.03 million in September 2019 as compared to US$ 85.42 mn a year earlier, while exports of rough lab grown diamonds stood at US$ 0.25 million in September 2019, down from US$ 0.35 million a year earlier. Exports of polished lab-grown diamonds stood at US$ 42.04 mn during the month as against US$ 17.72 mn a year earlier.

Imports of rough lab grown diamonds stood at US$ 10.05 mn during the month, up from US$ 8.92 mn a year ago, while imports of polished lab grown diamonds rose to US$ 31.59 mn in September 2019 as compared to US$ 7.60 mn a year earlier.

Exports of silver jewellery rose to US$ 118.72 million in September 2019 as compared to US$ 79.70 million in the same month last year.

Coloured gemstone exports fell to US$ 47.71 million in September 2019 as compared to US$ 61.02 million exported during the same month a year earlier.

New Source : gjepc

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Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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