The Gem Jewellery Export Promotion Council (GJEPC) has said the overall gross export of gems and jewellery remains strong and registered a growth of 6.33 per cent to $2.49 billion during December 2020 as compared to $2.35 billion in the corresponding month of 2019. In Rupee terms, the sector grew by 9.2 percent in December 2020 to Rs 18,261 crore. However, the overall gross exports of the sector remained down by 39.98 percent to $16.53 billion during April December 2020 period as compared to $27.54 billion during the same period last year.

GJEPC chairman Colin Shah said Exports have recovered sharply in the last two months and if the trend continues the decline in this fiscal year may narrow down to 20-25 per cent. In the early months of the fiscal, the sector was down by over 80 per cent. Cut and Polished diamond (CPD) exports in December2020 posted a sharp jump by 38.47 per cent to $1.74 billion as compared to $1.25 billion in the previous years corresponding month. While, for the nine months period CPD exports stayed negative by 27.13 per cent to $10.69 billion.

Gold jewellery exports for the month under review was lower by 35.06 per cent to $0.50 billion compared to $0.77 billion in December 2019. And for the April-December period gold jewellery exports was down 67.30 per cent to $3.02 billion from $9.23 billion for the first nine months of the previous year. Coloured gemstone exports till December 2020 was also down by 50.26 per cent to $0.12 billion from $0.24 billion of last fiscal. However, silver jewellery exports from April 2020 to December 2020 stayed robust and grew 50.66 per cent to $1.5 billion over the previous fiscal.