Gems, jewellery exports rise 9.18% in October on higher demand of value-added diamond: GJEPC

1 hour ago 1

India's gems and jewellery exports grew by 9.18 per cent to USD 2,998.04 cardinal (Rs 25,194.41 crore) successful October owed to revival successful request for chopped and polished diamond, the Gem and Jewellery Export Promotion Council (GJEPC) said connected Friday.

The wide exports stood astatine USD 2,746.09 cardinal (Rs 22,857.16 crore) during the corresponding play of erstwhile year, GJEPC said successful a statement.

CPD (cut and polished diamond) exports went up by 11.32 per cent during October this twelvemonth to USD 1,403.59 cardinal (Rs 11,795.83 crore) from USD 1,260.91 cardinal (Rs 10,495.06 crore) recorded successful the aforesaid period a twelvemonth ago.

"This is simply a invited alleviation for our industry, arsenic we've experienced export maturation of 9.18 per cent successful October. Notably, the export of chopped and polished diamond grew 11.32 per cent compared to October 2023. We are optimistic that this inclination volition continue, particularly with the approaching vacation play successful the West, which volition apt thrust further request for gems and jewellery.

Furthermore, the Council is making concerted efforts to grow into caller markets portion strengthening request successful existing ones, GJEPC president Vipul Shah said.

With Donald Trump winning the US statesmanlike elections, "we are optimistic astir his committedness to stabilise the geopolitical scenery and fortify the US economy, which volition enactment a revival successful trade, business, and proviso chains, yet boosting planetary request for gems and jewellery", helium added.

According to the GJEPC data, exports of golden jewellery besides accrued by 8.8 per cent to USD 1,124.52 cardinal (Rs 9,449.37 crore) successful October 2024 compared to USD 1,033.61 cardinal (Rs 8,603.33 crore) during the year-ago month.

Exports of polished lab-grown diamonds grew by 1.27 per cent to USD 138.12 cardinal (Rs 1,160.70 crore) successful the erstwhile period compared to USD 136.38 cardinal (Rs 1,135.16 crore) recorded successful October past year.

*** Disclaimer: This Article is auto-aggregated by a Rss Api Program and has not been created or edited by Nandigram Times

(Note: This is an unedited and auto-generated story from Syndicated News Rss Api. News.nandigramtimes.com Staff may not have modified or edited the content body.

Please visit the Source Website that deserves the credit and responsibility for creating this content.)

Watch Live | Source Article