Mumbai, April 12, 2021 (GNI): The financial year 2020-21 witnessed an overall decline of 28.46% to US$ 25.31 billion in the overall exports of gem and jewellery compared with US$ 35.37 bn in the fiscal year 2019-20, as per the data of the apex body The Gem and Jewellery Export Promotion Council (GJEPC). However, there is a significant increase in the exports witnessed in the last quarter of the financial year ended March 31st 2021, with an increase of over 12.73% as compared to same period last year.
Colin Shah, Chairman, GJEPC said, “FY 2020-2021 was an exceptional year, yet the industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports in the second half of the year. Post witnessing a decline in the first three quarters, the Gems & Jewellery Exports have witnessed a remarkable growth of 12.73% in Q4. However, the year 2020-21 ends with a 28.46% decline in overall gross exports of Gems & Jewellery It’s an achievement for the Indian gems and Jewellery industry, considering the scale and the magnitude of the COVID-19 pandemic globally.”
“While Rough import of Diamonds stabilised post opening up, the non-availability of duty free gold to jewellery manufacturers have sharply impacted the plain gold jewellery exports leading to a decline of around 60%. Improved International market Demands in the third quarter owing to a robust holiday season, stimulated manufacturing across all Gem & Jewellery product segments and overall gross exports.”
“The impact of Covid could have been severe, but I sincerely acknowledge the proactive support extended by the Central and State Govt. provided through timely relief measures and policy reforms that eased the impact of Covid-19 on the industry. GJEPC’s virtual trade shows played a significant role in the recovery of exports in 2020-21. Virtual trade shows and e commerce will continue to be the business growth drivers in 2021-2022”, stated in the press release.
· Gem & Jewellery Performance March 2021 and from April 2020-March 2021 (Dollar Term)
1. The overall gross exports of Gems & Jewellery declined by 28.46% to US$ 25.31 bn during April 2020 to March 2021 as compared to US$ 35.37 bn during the same period last year.
2. The overall gross exports of Gems & Jewellery is showing a growth of 78.22% to US$ 3424.94 million during the month of March 2021 as compared to US$ 1921.79 million in March 2020.
3. CPD exports April 2020 to March2021 (-) 12.13% to US$ 16401.30 mn from US$ 18664.53 mn registered during April 2019 to March 2020
4. CPD exports March 2021 (+) 123.55 % to US$ 2158.36 mn as compared to US$ 965.48 mn in March 2020.
5. Gold Jewellery Exports April 2020 to March 2021 (-)59.49% to US $ 4822.74 mn from US$ 11903.83 mn April 2019 to March 2020.
6. Gold Jewellery Exports March 2021 (+) 24.81% to US$ 758.21 mn from US$ 607.49 mn March 2020
7. Silver Jewellery Exports April 2020 to March 2021 (+)38.61% to US$ 2324.39 mn from US$ 1676.88 mn April 19 to March 2020.
8. Coloured Gemstone Exports April 2020 to March 2021 (-)41.71% to US$ 186.75 mn from US$ 320.41 mn April 19 to March 2020.
· Gem & Jewellery Export Performance March and April 2020 to March 2021 (Rupee Term)
1. The overall gross exports of Gems & Jewellery declined by 25.71% to Rs. 185952.34 Cr during April 2020 to March 2021 as compared to Rs. 250319.89 Cr. during the same period last year.
2. The overall gross exports of Gems & Jewellery is showing a growth of 73.98% to Rs. 24729.57 Cr during the month of March 2021 as compared to Rs. 14214.24Cr. in March2020.
3. CPD exports April 2020 to March2021 (-)8.87% to Rs. 120302.04 Cr. from Rs. 132015.25 Cr. registered during April 2019 to March 2020.
4. CPD exports March 2021 (+) 117.58% to Rs. 15530.11 Cr as compared to Rs. 7137.69 Cr. in March 2020.
5. Gold Jewellery Exports April 2020 to March 2021 (-) 57.89% to Rs. 35483.17 Cr from Rs. 84270.81 Cr. April 2019 to March 2020.
6. Gold Jewellery Exports March (+) 22.50% to Rs. 5505.19 Cr. from Rs. 4493.99 Cr. March 2020.
7. Silver Jewellery Exports April 2020 to March 2021 (+) 43.55% to Rs. 17163.03 Cr. from Rs. 11955.75 Cr. April 2019 to March 2020.
8. Coloured Gemstone Exports April 2020 to March 2021 (-)39.32% to Rs. 1377.30 Cr. From Rs. 2269.69 Cr. April 2019 to March 2020.
Gem & Jewellery overall Import performance April 20 to March 2021
1. The overall gross Import of Gems & Jewellery April 20 to March 2021 showing a decline of 32.36% to US$ 16493.18 mn from US$ 24382.46 mn registered during April 19 to March2020.
2. The overall gross import of Rough diamonds April 2020 to March 2021 showing a decline 16.44% to US$ 10885.17 mn from US$ 13026 mn registered during April 19 to March 2020.
3. The overall gross import of CPD April 2020 to March 2021 showing a growth 27.22% to US$ 2179.26 mn from US$ 1713.02 mn registered during April 19 to March 2020.
About The Gem and Jewellery Export Promotion Council (GJEPC) set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of gems & jewellery industry and today represents 7000 exporters in the sector. With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs, and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.
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