Mumbai: India’s overall gross exports of gems and jewellery during April-September 2020 declined 43% to $8.48 billion compared with $14.87 billion in the corresponding period a year ago. In the same six-month period, the overall gross imports of gems and jewellery dropped 52% to $4.23 billion as compared to $8.89 billion in the previous year, reports Gem and Jewellery Export Promotion Council (GJEPC).
A recovery in exports of gems and jewellery in September 2020 was reflected by the lowest monthly rate of decline in exports since the pandemic, of 27% (to $2.47 billion) on a year-on-year basis.
Imports in September 2020, too, dropped only 8.2% to $1.89 billion, indicating a resurgence in manufacturing activity across the country.
The H1 overall gross exports of cut and polished diamonds dropped 37% to $5.5 billion, and declined 20% to $1.56 billion in September, both on a year-on-year basis.
Imports of cut and polished diamonds grew 118% to $267.13 million in September 2020 and increased 59% to $950.36 million in H1.
Meanwhile, the H1 gross imports of cut and polished diamonds in the Domestic Tariff Area (DTA) declined 70% to $94.90 million, and surged 201% to $855.45 million in SEZs, mainly in the Surat SEZ.
During April-September 2020, gross imports of rough diamonds declined 57% to $2.55 billion, and fell 52% in volume terms to 31.47 million carats.
The H1 provisional gross export of polished lab-grown diamonds rose 15% to $207.44 million over the comparative figure of $181.02 million last year.
India’s H1 total gold jewellery exports saw a decline of 66% to $1.33 billion, which included a 55% drop in September 2020 to $480.7 million.
Plain gold gross exports in H1 plunged 76% to $635.66 million, while studded gold jewellery declined 45% to $696.2 million year-on-year.
During April to September 2020, there was an 80% growth in exports of silver jewellery, to $864.29 million, mainly from the Surat SEZ.
Platinum jewellery exports in H1 showed a modest growth of 7% to $2.63 million versus a year earlier.
Coloured gemstone gross exports in H1 fell 63% year-on-year to $64.96 million.
Provisional gross exports of gold medallions and coins for the April-September 2020 period dropped 59% to $241.73 million.
