Diamonds regain their lost glitter post-Covid, registers 33% export growth during April-August-2021.

Surat : Diamonds processed in the world’s largest diamond cutting and polishing hub in Surat have regained their lost glitter. Reason: the cut and polished diamond exports from India have registered a growth of 29% in August and 33% during April-August-2021 compared to the previous year.

According to the import-export figures released by the Gems and Jewellery Export Promotion Council (GJEPC) on Tuesday, the cut and polished diamond exports in August-2021 witnessed a growth of 29% to Rs 15,083 crore compared to Rs 11, 659 crores in April-2019.

During April-August-2021, the cut and polished diamond exports grew 33% to Rs 77, 473 crores compared to Rs 58,175 crore during April-August-2019.

GJEPC Chairman, Colin Shah said, “Strong demand in the USA, China, and several European countries along with sustained consumer interest in diamond jewellery are some of the factors for the positive export growth of cut and polished diamonds.”

However, the overall gross exports of gems and jewellery from India recorded a growth of 17% to Rs 24,239 crore in the month of August-2021 compared to Rs 20,793 crore in August-2019. Similarly, during April-August-2021, the overall gross exports grew 13% to Rs 1,16,503 crore compared to Rs 1,02,949 crore during April-August-2019.

Colin Shah, chairman of, GJEPC said, “So far the FY2021-22 has been showing a healthy recovery. Thanks to the gradual opening of the markets, the removal of entry restrictions, and the forthcoming festive season, India’s gem and jewellery exports will witness consistent growth soon.”

According to GJEPC, In August-2021 gold jewellery exports declined 15.06% to Rs. 5756.54 crores as compared to Rs. 6777.50 crore in August 2019.

During April-August 2021, overall plain and studded gold jewellery exports declined 30.39% to 23715.67 crores as compared to Rs. 34071.33 crore for the same period in 2019.

In April-August 2021, plain gold jewellery exports dropped 66.82% to Rs.8468.43 crore as compared to Rs. 25526.18 crore during April-August 2019.

On the other hand, the silver jewellery exports skyrocketed 170% to Rs 7,866 crore during April-August-2021 as compared to Rs 2,917 crore in April-August-2019.

“The positive export growth was boosted by the exports of silver jewellery studded with precious metals (diamonds) from the SEZs,” added Colin Shah.

 

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