India's Gem & Jewellery Exports Fall 10.29% in Dec 2024

Mumbai, Jan 17 (PTI) The overall gems and jewellery exports declined 10.29 per cent year-on-year to USD 1,967.98 million (Rs 16,719.460 crore) due to geopolitical tensions and a slowdown in demand in China, GJEPC said on Friday.

Gems and jewellery exports stood at USD 2,193.82 million (Rs 18,269.7 crore) in December 2023, according to data from industry apex body Gem and Jewellery Export Promotion Council (GJEPC).

"The geopolitical tensions continue to affect the overall demand. The slowdown in demand in key export destinations, including China, has also impacted the shipments," GJEPC chairman Vipul Shah told PTI.

The overall export of Cut and Polished diamonds (CPD) declined 10.36 per cent to USD 773.1 million (Rs 6,569.7 crores) in December compared to USD 862.48 million (Rs 7,182.53 crores) in the same period of 2023.

Exports of Polished Lab Grown Diamonds fell 5.48 per cent to USD 78.93 million (in Rs 670.77 crore) against USD 83.51 million (Rs 695.48 crore) a year ago, according to provisional data by GJEPC.

The total export of gold jewellery also witnessed a 3.56 per cent decline to USD 868.03 million (Rs 7,374.41 crore) in December 2024 from USD 900.11 million (Rs 7,496.27 crore) in the year-ago period.