Categories: Business

India exports of gems, jewellery slump 38 percent in July

Photo: INSTAGRAM / JUST_KUNDAN

India exports of gems, jewellery slump 38 percent in July

new Delhi. Export of gems and jewelery from India in July fell 38 per cent to $ 13.6 million in the previous year. The Gems and Jewelery Export Promotion Council ie GJEPC has given this information. According to the Council, the decline in exports was due to the sharp decline in foreign demand for polished and polished diamonds from the Corona crisis. According to the council, exports of cut and polished diamonds during July were down by 39 percent to $ 918 million over the previous year.

The export of cut diamonds between April and July has fallen by 46.5 per cent over the previous year to $ 270 million. According to the council, the industry is currently under double pressure. Demand is already declining due to the Corona crisis, while the restrictions and lack of artisans are making it difficult to fulfill orders. According to the council, many artisans have gone back to their homes due to the lockdown and many of them still have not returned. According to the council, orders are currently being received but there is a shortage of artisans in the industry.

In view of the decrease in export of diamonds cut, the industry has reduced imports of diamonds without cutting. Between April and July, imports of diamonds have been down 82 percent to $ 71 million, compared to last year.

This post was published on August 14, 2020 4:30 am

Content Team

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