Gem & Jewellery Commodities witness an upsurge in February 2023:
\n\u2022 Cut & Polished diamonds record a strong growth of 32% to \u20b919582.38 crores.
\n\u2022 Plain Gold Jewellery experienced a remarkable increase of 45.04% to \u20b92604.14 crores.
\n\u2022 Studded Gold jewellery of all kinds grew by 19.78%, to \u20b93225.51 crores
\n\u2022 Polished Lab-Grown Diamonds grew 18.23% to \u20b9 1117.10 crores<\/p>\n
India\u2019s gem and jewellery exports witnessed a resurgence in February, buoyed by the swift recovery of both the Chinese and Middle East markets. In February 2023, the overall gem & jewellery exports<\/strong> witnessed a surge of 24%<\/strong> to \u20b928832.86 crores<\/strong> as compared to \u20b923326.80 crores<\/strong> for the same period last year.<\/p>\n In February 2023,<\/strong> the overall gross export of Cut & Polished diamonds<\/strong> witnessed a strong growth of 32% to \u20b919582.38 crores<\/strong> as compared to \u20b9 14841.90<\/strong> crores in February 2022.<\/p>\n For February 2023,<\/strong> the total gross export of Gold Jewellery (Plain & Studded)<\/strong> grew 29.89%<\/strong> to \u20b95829.65 crores<\/strong> as compared to \u20b9 4488.30 crores<\/strong> for the same period last year.<\/p>\n Commenting on the surge in exports experienced during the month of February Vipul Shah, Chairman, GJEPC<\/strong> said, \u201cGJEPC is excited about the strong pace of demand observed by Indian exhibitors at the recent Hong Kong show, which revealed the untapped demand in the Chinese market. In February 2023, India experienced a noteworthy 32% surge in cut and polished diamond exports, which can be partly attributed to the strong demand from China and the Lunar New Year festivities. Additionally, thanks to the forward-thinking CEPA deal signed with the UAE, there was an equally impressive 45% increase in plain gold jewellery exports, indicating that the Middle East market is rebounding strongly after a slight dip. Furthermore, studded gold jewellery, which is primarily exported to the US, is also showing a promising improvement of around 20%.<\/p>\n Shah<\/strong> further added, \u201cThe Hong Kong market had experienced a negative trend in the last few months, but now we’re seeing signs of a rebound. This resurgence in Chinese consumption could potentially lead to even greater improvements. In China, the average savings rate is around 40%, which translates to trillions of dollars that could potentially be spent in a “revenge buying” frenzy, similar to what we’ve seen in other world markets after prolonged lockdown periods. As a result, we anticipate significant growth in the diamond and diamond jewelry industry over the next 6 months.\u201d<\/p>\n For February 2023, the total gross export of Plain Gold Jewellery<\/strong> surged 45.04%<\/strong> to \u20b92604.14 crores<\/strong> as compared to \u20b91795.51 crores<\/strong> for the same period last year.<\/p>\n For the month of February 2023<\/strong>, the total gross export of all kinds of Studded Gold jewellery<\/strong> grew 19.78%<\/strong> to \u20b93225.51 crores<\/strong> as compared to \u20b9 2692.79 crores<\/strong> in February 2022.<\/p>\n In February 2023, provisional gross export of Polished Lab-Grown Diamonds<\/strong> grew 18.23%<\/strong> to \u20b9 1117.10<\/strong> crores as compared to \u20b9944.84<\/strong> crores for the same period last year.<\/p>\n In February 2023, provisional gross export of coloured gemstones<\/strong> grew 116.14%<\/strong> to \u20b9452.08 crores<\/strong> as compared to \u20b9 209.16 crores<\/strong> for the same period last year.<\/p>\n In February 2023,<\/strong> provisional gross export of Silver Jewellery<\/strong> declined 42.89 %<\/strong> to \u20b9 1125.60 crores<\/strong> as compared to \u20b91970.82 crores<\/strong> for the same period last year.<\/p>\n In February 2023,<\/strong> provisional gross export of Platinum Jewellery<\/strong> declined 37.63%<\/strong> to \u20b98.70 crores<\/strong> as compared to \u20b913.94 crores<\/strong> for same period last year.<\/p>\n April 2022 \u2013 February 2023<\/strong><\/p>\n For the cumulative fiscal year-to-date period of April 2022 \u2013 February 2023<\/strong>, the overall gross exports of gems & jewellery<\/strong> witnessed a growth of 5.27%<\/strong> to \u20b9278960.56 crores<\/strong> as compared to \u20b9 264994.83 crores<\/strong> for the same period last year.<\/p>\n For the period of April 2022 \u2013 February 2023,<\/strong> the overall gross exports of Cut & Polished diamonds<\/strong> (CPDs) declined 0.22% to \u20b9 163489.85 crores<\/strong> as compared to \u20b9 163847.98 crores<\/strong> for the same period last year.<\/p>\n For the period of April 2022 to February 2023,<\/strong> the provisional gross export of total Gold Jewellery<\/strong> (plain & studded) grew 11.74% to \u20b969866.48 crores<\/strong> as compared to \u20b962527.88 crores<\/strong> for the same period last year.<\/p>\n For the period of April 2022 to February 2023,<\/strong> the provisional gross export of Plain Gold Jewellery<\/strong> grew 16.39% to \u20b930417.83<\/strong> crores as compared to \u20b9 26134.67 crores<\/strong> for the same period last year.<\/p>\n For the period of April 2022 to February 2023,<\/strong> provisional gross exports of all kinds of Studded Gold jewellery<\/strong> surged 8.4% to \u20b9 39448.65 crores<\/strong> as compared to \u20b9 36393.21 crores<\/strong> for the same period last year.<\/p>\n In the fiscal year-to-date, provisional gross export of Polished Lab-Grown Diamonds<\/strong> grew 43.93% to \u20b9 12549.34 crores<\/strong> as compared to \u20b98719.02 crores<\/strong> for the same period last year.<\/p>\n During April 2022 to February 2023,<\/strong> provisional gross export of coloured gemstones<\/strong> jumped 48.62% to \u20b93153.60 crores<\/strong> as compared to \u20b92121.87 crores<\/strong> for the same period last year.<\/p>\n From April 2022 to February 2023,<\/strong> provisional gross export of Silver Jewellery<\/strong> increased 26.29% to \u20b9 23139.14 crores<\/strong> as compared to \u20b918321.89 crores<\/strong> for the same period last year.<\/p>\n For the period of April 2022 to February 2023,<\/strong> provisional gross export of Platinum Jewellery<\/strong> grew 15.83% to \u20b9226.98 crores<\/strong> as compared to \u20b9195.96 crores<\/strong> for same period last year.<\/p>\n","protected":false},"excerpt":{"rendered":" Gem & Jewellery Commodities witness an upsurge in February 2023: \u2022 Cut & Polished diamonds record a strong growth of 32% to \u20b919582.38 crores. \u2022 Plain Gold Jewellery experienced a remarkable increase of 45.04% to \u20b92604.14 crores. \u2022 Studded Gold jewellery of all kinds grew by 19.78%, to \u20b93225.51 crores \u2022 Polished Lab-Grown Diamonds grew…<\/p>\n","protected":false},"author":1,"featured_media":20099,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-20098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n