Plain gold jewellery exports rise 27.45% in April

India’s plain gold jewellery exports increased by 27.45% year on year in the month of April. While total gross gold jewellery exports also grew at 11.03%, overall gem and jewellery exports dropped by 11.37% last month.

“Plain gold jewellery has shown remarkable growth in exports, especially since the UAE CEPA,” said the Gem and Jewellery Export Promotion Council’s chairman Vipul Shah, ET Bureau reported. “It continues to play a significant role in the gem and jewellery industry. With the benefits expected from the FTAs signed with UAE, Australia, and EFTA, we anticipate further growth in the coming years. In April 2024 alone, exports of plain gold jewellery surged by 27.45% to $342.27 million.”
 
Total gem and jewellery exports totalled $2.07 billion in April 2024, the Economic Times reported. Gross gold jewellery exports, including both plain and studded designs, totalled $718.34 million in April 2024 compared to $646.97 million in April 2023.
 
“Additionally, studded jewellery exports are showing promising signs, nearly matching last year’s April exports,” said Shah. “We are optimistic about the future and expect growth in diamond and silver jewellery exports in the year ahead.”
 
Cut and polished diamond exports dropped by 16.76% year on year in April 2024, affected in part by global political and economic troubles. Silver jewellery exports dropped by 32.98% in the same time period but platinum jewellery jumped by 281.1%.