India Gold Jewellery Exports Recorded Upward Trend

SEATTLE (Scrap Monster): According to the Gems and Jewellery Export Promotion Council (GJEPC), the exports of plain gold jewellery gained traction in India ever since the India-UAE Comprehensive Economic Partnership Agreement (CEPA) came into force in May 2022.

The gross export of plain gold jewellery were valued at $325.59 million in July this year, compared with $280.02 million recorded in the same month a year before. Meantime, the overall gem and jewellery exports witnessed a marginal dip by 7.28% in dollar terms to $3,129.91 million.

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For the period from April to July 2022, provisional gross export of plain gold jewellery recorded growth of 22.98% in dollar terms to $1,321.68 million. This compares with $1,074.67 million for the same period in 2021. The overall gross exports witnessed a growth of 5.63% from $12,655.55 million in April-July’21 to $13,367.91 million in the same period this year.

Colin Shah, Chairman, GJEPC noted that it hoped to see successful completion of similar free trade agreements (FTAs) with the UK and Canada soon, which in turn will further boost gold jewellery exports from India. The next few months will be a crucial period for exporters, he added.