India's gem, jewellery exports decline 11.49% to ₹22,873 crore in October

Gems and jewellery exports in India fell 11.49% to ₹22,873.19 crore ($2,748.01 million) in Oct, GJEPC data shows. CPD exports down 32.70%, LGD down 23.01%, gold jewellery up 33.48%. Demand slowdown in US & supply constraints of diamond cited as main reasons. Hoping for pick-up during Christmas.

India's overall gems and jewellery exports declined by 11.49% to ₹22,873.19 crore ($2,748.01 million) in October, according to the Gem and Jewellery Export Promotion Council (GJEPC) data.

The gross exports stood at ₹25,843.84 crore ($3,134.85 million) during October 2022, the data showed.

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Cut and Polished Diamonds (CPD) exports witnessed a fall of 32.70% to ₹10,495.06 crore ($1,260.91 million) in the previous month compared to ₹15,594.49 crore ($1,891.2 million) in the year-ago period.

Gross export of polished Lab Grown Diamonds (LGD) in October dropped by 23.01% to ₹1,135.16 crore ($136.38 million) against ₹1,474.38 crore ($178.73 million) in the corresponding month of 2022.

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