Gems, jewellery exports may decline 5-10% this year; US-China trade war, protests in Hong Kong to impact sales: GJEPC
5 years, 2 months ago

Gems, jewellery exports may decline 5-10% this year; US-China trade war, protests in Hong Kong to impact sales: GJEPC

Firstpost  

In September, the overall gems and jewellery exports dipped by 7.43% to Rs 23,788.01 crore during September 2019 Mumbai: The overall gems and jewellery exports are expected to decline of 5-10 percent in this financial year on the back of US-China trade war, protests in Hong Kong and the implementation of VAT in the Middle East, Gems and Jewellery Export Promotion Council said. The on-going protests in Hong Kong and the slowdown in the Middle East after the implementation of value-added tax from January 2018 has also affected gems and jewellery exports, Shah said. He said, looking at these trends the overall gems and jewellery exports are expected to decline by 5-10 percent in this financial year compared to 2018-19. In September, the overall gems and jewellery exports dipped by 7.43 percent to Rs 23,788.01 crore during September 2019, compared to Rs 25,698.6 crore in the corresponding month of 2018, according to the government data.

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History of this topic

US holidays sales forecast boost gems and jewellery exports; shipments bottom out
2 months ago

US holidays sales forecast boost gems and jewellery exports; shipments bottom out

Deccan Chronicle  

CHENNAI: Indian gems and jewellery exporters are enthused by the forecast of the US retailers' federation, which predicts optimistic holiday season sales in that country. According to the Gems and Jewellery Export Promotion Council, prior to the holiday season, the exports have clocked 10 -11 per cent growth in October. We had witnessed 11 per cent decline in exports till …

‘Gem and jewellery exports grew 7.9% in April-Oct. 2022’
2 years, 1 month ago

‘Gem and jewellery exports grew 7.9% in April-Oct. 2022’

The Hindu  

Gem and jewellery exports from India grew 7.9% to ₹1,88,183.89 crore in the April to October period, despite a decline of 14.64% to ₹25,843.84 crore in the month of October, according to the Gem & Jewellery Exports Promotion Council. “We had witnessed the usual pre-Diwali buzz as factories rushed to complete export orders in time for Thanksgiving and Christmas,” said …

Coronavirus Outbreak: Gems, jewellery exports stare at steep fall in Q1 next fiscal as disruptions hit operations: Report
4 years, 9 months ago

Coronavirus Outbreak: Gems, jewellery exports stare at steep fall in Q1 next fiscal as disruptions hit operations: Report

Firstpost  

A 41 percent annual decline in cut and polished diamond exports led to a cumulative exports fall of 19 percent year-on-year for the overall gems and jewellery industry in February 2020, it added. Mumbai: The gems and jewellery exports are expected to witness a sharp decline in March as well as in the first quarter of the next fiscal due …

Coronavirus Outbreak: Gem and jewellery sector comes to 'standstill'; seeks prompt govt relief
4 years, 9 months ago

Coronavirus Outbreak: Gem and jewellery sector comes to 'standstill'; seeks prompt govt relief

Firstpost  

The indigenous gem and jewellery sector in the country has come to a “standstill” amid the coronavirus pandemic and is in immediate need of relief measures from the government, an industry body said The indigenous gem and jewellery sector in the country has come to a “standstill” amid the coronavirus pandemic and is in immediate need of relief measures from …

Govt aiming to take jewellery exports to $80 bn from $40 bn in 5 years
4 years, 11 months ago

Govt aiming to take jewellery exports to $80 bn from $40 bn in 5 years

Business Standard  

Artisans will be able to access modern machines for designing and testing at this centre, the official said. The government is aiming at USD 80 billion of jewellery exports in the next five years from the present level of USD 40 billion, a senior official said on Thursday. "Jewellery exports is targeted to touch USD 80 billion in the next …

Trump’s trade slap will send India’s gems and jewellery sector reeling
5 years, 6 months ago

Trump’s trade slap will send India’s gems and jewellery sector reeling

Live Mint  

The withdrawal of duty benefits by the US under the Generalized System of Preferences is yet another blow for India’s gems and jewellery sector. The decision, which came into effect from 5 June, is however expected to have a limited impact on India’s overall export trade, said Crisil Research Ltd. Chaudhary, had said that the gems and jewellery sector provided …

Jewellers find exports tough as bank fraud squeezes credit
6 years, 1 month ago

Jewellers find exports tough as bank fraud squeezes credit

Live Mint  

Mumbai: India’s jewellery exporters expect tighter lending to douse any recovery in overseas sales this year, stoking fears that buyers will shift to rivals China and Thailand. In the nine months since India’s biggest bank fraud came to light, jewelers have struggled to get credit to run their businesses. Exports may not grow this year with shipments hovering near last …

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