Plain Gold Jewellery Exports Shine Bright, Grew 27.45% in April: GJEPC

The export of plain gold jewellery continues to soar, marking a significant 27.45% increase, reaching USD 342.27 million in April 2024, compared to USD 268.56 million in the same month the previous year.

The overall exports of gems and jewellery declined 11.37% to USD 2074.85 million in April 2024, as compared to the same period the previous year. However, the total gross export of Gold Jewellery (both plain and studded) saw a promising 11.03% growth, reaching USD 718.34 million in April 2024 compared to USD 646.97 million in the same period the previous year.

Vipul Shah, Chairman of GJEPC, commented, “Plain gold jewellery has shown remarkable growth in exports, especially since the UAE Comprehensive Economic Partnership Agreement (CEPA). We are pleased that it continues to play a significant role in the gem and jewellery industry. With the benefits expected from the Free Trade Agreement (FTA)s signed with UAE, Australia, and European Free Trade Association (EFTA), we anticipate further growth in the coming years. In April 2024 alone, exports of plain gold jewellery surged by 27.45% to USD 342.27 million. Additionally, studded jewellery exports are showing promising signs, nearly matching last year’s April exports. We are optimistic about the future and expect growth in diamond and silver jewellery exports in the year ahead.”

Shah further added, “To further boost exports, we have devised a robust 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.”

In April 2024, the total export of Studded Gold Jewellery experienced a slight decline of 0.62%, reaching USD 376.06 million compared to USD 378.41 million in the same month the previous year.

Other highlights from the report include a decline in the gross export of Cut & Polished diamonds by 16.76% to USD 1154.8 million in April 2024 compared to USD 1387.38 million in the same period the previous year. Gross export of Silver Jewellery for April 2024 decreased by 32.98% to USD 43.63 million compared to USD 65.11 million in the same month the previous year. However, the gross export of Platinum Jewellery for April 2024 experienced an impressive growth of 281.1%, reaching USD 13.41 million compared to USD 3.52 million in the same month the previous year.

Furthermore, the gross export of Coloured Gemstones for April 2024 decreased by 35.39% to USD 24.8 million compared to USD 38.38 million in the same month the previous year. Similarly, the gross export of Polished Lab Grown Diamonds for April 2024 declined by 18.2% to USD 83.77 million compared to USD 102.4 million in the same month the previous year.

Related Posts

Quess Corp launches its blue-collar recruitment satellite hubs, ‘Jobspot’

·         Jobspot by Quess guarantees on the spot jobs within 30 minutes to blue-collar workers ·         Plans to launch 15 Jobspot centres in 2024 Quess Corp, India’s leading business…

Unlocking the Potential of Play: The Baby Atelier Introduces Its Bangalore’s Flagship Store, Offering Turnkey Design Solutions

The Baby Atelier, a reputable brand known for its commitment to crafting organic, toddler, and kids products, launched its flagship store in Bangalore, offering product selections and comprehensive design solutions for children’s rooms….

Vegapay secures $5.5 Million from Elevation Capital to help financial institutions launch hyper-flexible credit products with lightning speed

Vegapay, today announced the successful closure of a $5.5Mn seed round, led by Elevation Capital with continued participation from Eximius Ventures. This investment will help Vegapay build…

DGFT Holds Revised Wastage Norms for Gem & Jewellery Exports: GJEPC

DGFT Gives GJEPC Time Until 31st July to Provide Inputs on Standard Input Output Norms (SION) On behalf of the industry, the Gem & Jewellery Export Promotion…

Veranda Learning partners with Karnataka Skill Development Corporation to launch upskilling programs

Veranda Learning Solutions Limited (“Veranda” or the “Company“), a company listed on BSE and NSE offering end-to-end solutions in the education space, has commenced its work as a…

Digital Lending Made Easy, Quick & Efficient

Arvog’s digital lending marks a ground-breaking fusion of technology and financial services. Fueled by advanced AI and machine learning, Arvog emerges as a cutting-edge, customer-centric finance entity,…

Leave a Reply