India’s gems and jewellery exports posted a decline of 10.70 percent in May to $2.76 billion, but gold jewellery exports from the South Asian country registered an increase of 7.29 percent during the month to $693 million as against $687.18 million in the year-ago period, according to latest industry body data.
The UAE is the largest export market for gold jewellery from India, accounting for more than 75 percent of the exports.
India’s gem and jewellery exports stood at $3.28 billion in May 2022, according to the Gem Jewellery Export Promotion Council (GJEPC) data, PTI reported.
The data showed the overall exports of cut and polished diamonds showed a decline of 12.17 percent to $1.72 billion in May this year.
The gross exports of polished lab-grown diamonds during April-May, however, witnessed a higher decline of 20.57 percent to $236.08 million from $325.45 million in the first two months of the preceding financial year.
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