Plain gold jewellery exports up by 20.98% in April-December ‘22

India’s plain gold jewellery exports for the period between April–December 2022 increased by 20.98% to INR 24242.91 crore, on the back of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), according to a report from the Gem and Jewellery Export Promotion Council (GJEPC).

The total gross export of plain gold jewellery grew by 21.31% to INR 2,369.74 crore in December 2022, compared to INR 1,953.46 crore in December 2021.

According to the report, the overall gross exports of gems & jewellery rose by 6.28% in the April-December period of 2022, to INR 2.27 trillion. In December 2021, it was INR 21,896.46 crore.

Experts said that despite global macroeconomic concerns, Indian jewellery makers performed well last year, leading to healthy export figures. Additionally, the commissioning of India-UAE CEPA has resulted in exponential growth in exports of plain gold jewellery to make up for the gap in exports to key markets such as the U.S. and Hong Kong. 

According to media reports, the overall gross exports of Cut & Polished diamonds (CPDs) reached INR 1.32 trillion in the April-December period of 2022, compared to INR 1.33 trillion in the same period, the previous year. 

The reports also mentioned that the provisional gross export of total Gold Jewellery (plain & studded) rose by 14.81% to INR 56,984.60 crores in the April-December period of 2022, compared to INR 49,635.03 crores for the same period in 2021. 

On the other hand, provisional gross exports of all kinds of Studded Gold jewellery grew by 10.63% to INR 32,741.69 crore compared to INR 29,596.70 crore for the same period last year.

By creating more initiatives to increase the recycling, refining and manufacturing of gold jewellery, India’s exports of the same will increase even further. 

Source: Economic Times