Chennai: With key markets remaining sluggish and the industry facing finance-related issues, gems and jewellery exports continued to decline in July.
The exports fell 10.3 per cent in July and shrunk 8.48 per cent to $9.7 billion for April-July from $10.6 billion in the year-ago period, data from the Gems and Jewellery Export Promotion Council (GJEPC) showed.
The sector that contributes about 15 per cent to the country’s overall exports, was mainly hit by the decline in shipments of cut and polished diamonds and gold jewellery —the two main components in the export basket —in April-July.
Cut and polished diamonds exports contracted 17.5 per cent and gold jewellery by 4.8 per cent. Shipments of coloured gem stones too dipped by 10 per cent.
In 2018-19 also gems and jewellery exports had declined 5.32 per cent to $30.96 billion in 2018-19.
