Plain gold jewellery exports up 27% in April
Sat May 18 2024
Plain gold jewellery export continued to grow in the first month of 2024-25 while studded gold jewellery witnessed a slight dip in April. The growth in plain gold jewellery was 27.45% from $268.56 million in April 2023 to $ 342.27 million in corresponding month this year.
Exports of plain gold jewellery surged 62% to US$ 6,792.24 million in
2023-34 compared to $ 4,199.96 million in 2022-23. Plain gold jewellery is
witnessing significant growth compared to studded gold jewellery. In April
2024, the total export of studded gold jewellery declined by 0.62%, reaching
$376.06 million compared to $378.41 million in the same month the previous
year.
Like plain gold, platinum jewellery exports continued to grow. Gross export of
platinum jewellery for April 2024 grew by 281.1%, reaching $ 3.41 million
against $3.52 million in the same month last year. Platinum jewellery exports
grew by 449% in 2023-24 to $163.48 million over the comparative figure of $
29.77 million the year before.
Cut and polished diamond exports declined by 16.76% to US$ 1,154.8 million in April 2024 compared to $1,387.38 million in the same period the previous year. Gross export of silver jewellery for April 2024 decreased by 32.98% to $43.63 million compared to $65.11 million in the same month the previous year.
“Plain gold jewellery has shown remarkable growth in exports, especially since
the UAE CEPA. We are pleased that it continues to play a significant role in
the gem and jewellery industry. With the benefits expected from the FTAs signed
with UAE, Australia, and EFTA, we anticipate further growth in the coming
years,” said Vipul Shah, chairman, Gem and Jewellery Export Promotion Council
(GJEPC).
“To further boost exports, we have devised a promotion plan, focusing on
tapping into new markets. Additionally, we are investing in the generic
promotion of diamond and gold jewellery, in collaboration with the Natural
Diamond Council (NDC) and the World Gold Council (WGC), respectively,” Shah
added.
Source: https://timesofindia.indiatimes.com/