Indian diamond jewellery market will grow to US$ 17 bn by 2031 out of India’s total gem & jewellery of US$ 120 bn from $ 79 bn in 2021. 2024 is likely to be a record year for gold mine production and jewellery demand will be firm but vulnerable to gold prices. This was revealed…
India’s cut and polished diamond exports in 2023/24 plunged 27.5% from a year ago to a $15.97 billion due to sluggish demand from the United States, China and the United Arab Emirates, a leading trade body said on Monday. The fall in exports forced the world’s biggest diamond polisher to reduce imports of rough diamonds…
UAE and Bahrain accounted for over 85% of India’s plain gold jewellery exports in FY24, according to figures released by the Gem & Jewellery Export Promotion Council (GJEPC). For FY24, overallexports of plain gold jewellery from India surged by 61.72% to US$ 6792.24 million as compared to US$ 4199.96 million in FY23. Total gold jewellery…
Representative Image Gems and jewellery exports declined by 12.17 per cent to Rs 2,65,187.95 crore (USD 32,022.08 million) during 2023-24, compared to the previous financial year due to high interest rates in the US and slow recovery in China, Gem and Jewellery Export Promotion Council (GJEPC) data showed. Gems and jewellery exports in FY23 stood…
New Delhi: The Trade and Economic Partnership Agreement (TEPA) between India and European Free Trade Association (EFTA) is expected to triple the export of Indian gems and jewellery to Switzerland, Iceland, Norway and Liechtenstein to USD 1 billion in the coming years, said Vipul Shah, Chairman, GJEPC in a press note on Thursday. Currently, India…
Representative image The Directorate General of Foreign Trade (DGFT) has urged the Gem & Jewellery Export Promotion Council to popularise jewellery exports through e-commerce and to position India as a top supplier, design creator and value-adding hub for gold jewellery. Santosh Kumar Sarangi, Director General of DGFT said, “India stands as one of the largest…
Representative Image Mumbai: The Directorate General of Foreign Trade (DGFT) on Wednesday pitched for formulating a robust branding strategy positioning India as a top supplier and value-added provider of gold jewellery. “India stands as one of the largest buyers of gold globally, showcasing considerable buying power that can potentially influence the streamlining of gold prices…
The Gem & Jewellery Export Promotion Council (GJEPC) has suggested in its pre-budget representation that the Centre should introduce Safe harbour for the sale of rough diamonds in Special Notified Zones (SNZs) so that India can become a trading hub like Dubai and Belgium. This means that Indian diamond manufacturers will not have to travel…
Representative image. Surat: Facing global slowdown, the country’s gem and jewellery trade is expecting various reliefs from the government in the next Union budget. The Gem & Jewellery Export Promotion Council (GJEPC) has proposed several recommendations to the government in this regard. According to GJEPC, the industry sustains around 4.3 million jobs and contributes 10…
Representative image. Bharat Ratnam Mega CFC (Common Facility Centre) at the SEEPZ SEZ in Mumbai, which was inaugurated by Prime Minister Narendra Modi on Friday, will drive gem and jewellery exports from the country. This project aims to create a world-class infrastructure for promoting the inherent skills of the gems and jewellery manufacturing industry. The…
