Gems, jewellery exports dip 4.65% in April-December
NEW DELHI, JANUARY 24: The country’s gems and jewellery exports contracted by 4.65 per cent to about $25 billion during April-December this fiscal owing to demand slowdown in major markets, including the US.
According to the Gems and Jewellery Export Promotion Council (GJEPC) data, exports stood at $26.1 billion in the same period last year. The labour-intensive sector contributes about 14 per cent to the country’s overall export.
The drop in shipments is mainly due to contraction in the export of gold jewellery and gold medallions and coins. The industry has asked for support in terms of increasing incentives under the Merchandise Exports from India Scheme (MEIS) to boost the shipments.