|
India's gem and jewellery exports rebounded sharply in June, with gross exports rising 26.51 per cent year-on-year to USD 2.21 billion, supported by stronger demand across key international markets and lower gold prices, the Gem and Jewellery Export Promotion Council (GJEPC) said on Wednesday.
GJEPC said the strong monthly performance was driven by healthy demand for gold jewellery, cut and polished diamonds, platinum jewellery and lab-grown diamonds across major export markets. Commenting on the performance, GJEPC Chairman Kirit Bhansali said, "The strong rebound in June exports reflects the resilience of India's gem and jewellery sector amid an evolving global trade environment." He added that while exports during the April-June quarter remained broadly stable, the recovery in June was an encouraging sign and that continued demand from key markets, market diversification and recently concluded trade agreements such as the India-UK CETA are expected to support export growth in the coming months. According to the council, the rebound was aided by a 10.28 per cent month-on-month decline in international gold prices, which reduced raw material costs and enabled Indian exporters to offer more competitive prices in overseas markets. GJEPC said improved price competitiveness, stronger demand and participation by Indian exporters in jewellery exhibitions in Kuwait and Sharjah also contributed to the recovery. It, however, noted that the availability of gold for exporters continues to be affected by a technical regulatory issue relating to GST applicability on imports by RBI-notified nominated agencies. Among product categories, gold jewellery exports surged 54.50 per cent year-on-year to USD 1.09 billion, while studded gold jewellery exports jumped 85.35 per cent. Cut and polished diamond exports rose 8.71 per cent, platinum jewellery exports increased 34.77 per cent, and polished lab-grown diamond exports climbed 52.25 per cent during June. Silver jewellery and coloured gemstone exports, however, declined during the month. For the April-June 2026 quarter, overall gross gem and jewellery exports remained broadly stable at USD 6.61 billion, registering 0.04 per cent growth in dollar terms and 10.76 per cent growth in rupee terms over the corresponding period last year, which GJEPC said reflected the sector's resilience despite global economic uncertainties and elevated precious metal prices. (ANI)
|
