India jewellery exports fall 9.07 per cent in April to Rs 20.82 crore amid geopolitical tensions

NEW DELHI: India’s exports of jewellery fell in April 9.07 per cent amid geopolitical tensions in Middle East and uncertainty in key markets, according to data from the Gem & Jewellery Exaport Promotion Council (GJEPC). The overall exports stood at $2,226.45 million (Rs 20,825.01 crore), down from $2,448.53 million (Rs 20,952.26 crore) in the same month last year. GJEPC Chairman Kirit Bhansali attributed the decline to external disruptions, saying, “Decline in exports is mainly due to the ongoing conflict in West Asia, which has caused worldwide disruptions affecting exports. Besides geopolitical tensions, exports to the US, a major export market for the gems and jewellery industry, were also affected because there is still no clarity on the tariffs,” he told PTI. Segment-wise, cut and polished diamond exports fell 19.65 per cent to $890.91 million from $1,108.74 million a year earlier. Polished lab-grown diamond exports also declined 15.53 per cent to $93.28 million compared to $110.43 million last year. Gold jewellery exports dropped 21.77 per cent to $841.54 million, compared to $1,075.67 million in the same period last year. Within this segment, plain gold jewellery exports saw a sharper fall of 47.06 per cent to $341.08 million from $644.33 million, while studded gold jewellery rose 16.02 per cent to $500.46 million from $431.35 million. In contrast, silver jewellery exports surged sharply, rising 444 per cent to $268.38 million compared to USD 49.33 million in the corresponding month last year.