Gems, jewelry exports decline by 38% in July


Mumbai, August 13

Imports fall 82%

  • In the April-July interval, lower and polished diamond exports plunged 46.5% from a yr in the past to $2.7 billion


  • Falling exports of lower and polished diamonds prompted sprucing models to chop imports of tough diamond, which throughout April-July fell 82% from a yr in the past to $712.6 million

India’s gems and jewelry exports fell 38% in July from a yr in the past to $1.36 billion as shipments of lower and polished diamonds plunged due to the novel coronavirus, a commerce organisation stated on Thursday.

The trade was hit twice due to the coronavirus, with export orders evaporating after which a scarcity of staff attributable to a nationwide lockdown to cease the unfold of the virus.

India’s lower and polished diamond exports in July fell 39% from a yr in the past to $918.four million, the Gems and Jewellery Export Promotion Council (GJEPC) stated.

Thousands of staff employed in sprucing diamonds went again to their houses after the federal government imposed a nationwide lockdown to curb the coronavirus in late March and plenty of of them had but to return, stated Colin Shah, chairman of GJEPC. — PTI



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