In FY24, India witnessed a significant surge in plain gold jewellery exports, notably to UAE and Bahrain, comprising over 85% of the total, reaching $6,792.24 million. Total gold jewellery exports rebounded by 46.91% in the latter half of the year after a decline in the first half. Chairman of GJEPC, Vipul Shah, credited this growth to pragmatic foreign trade agreements like the India-UAE CEPA.
In FY24, India witnessed a significant surge in plain gold jewellery exports, notably to UAE and Bahrain, comprising over 85% of the total, reaching $6,792.24 million. Total gold jewellery exports rebounded by 46.91% in the latter half of the year after a decline in the first half. Chairman of GJEPC, Vipul Shah, credited this growth to pragmatic foreign trade agreements like the India-UAE CEPA.
India's Gem and Jewellery Export Promotion Council (GJEPC) reports the overal exports of polished diamonds in FY2024 dropped 25.23% to nearly US$16bn from US$22bn in the previous financial year. GJEPC cites a slowdown in the US market due to high interest rates and slower than anticipated post-covid market conditions in China. LGD exports decreased 13.79% to US$1.4bn compared to US$1.6bn a year earlier. (photo Envato Elements)
India s cut and polished
diamond exports in 2023/24 plunged 27.5% from a year ago to a
$15.97 billion due to sluggish demand from the United States,
China and the United Arab Emirates, a leading trade. -April 22, 2024 at 06:54 am EDT
- MarketScreener
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