Jewellery exports slump 42% in Aug.

Gem & Jewellery exports from India posted a year-on-year decline of 42% to $1,764.06 million in August 2020, from a year earlier.

However, showing signs of recovery during the lockdown period, the sectorโ€™s exports rose significantly in August compared with the $36 million seen in April.

โ€œThe recovery is due to growth in demand for diamonds and jewellery in international markets like U.S., China and Europe, which have opened for trade,โ€ the Gem and Jewellery Export Promotion Council (GJEPC) said.

Colin Shah, chairman, GJEPC, said in a statement, โ€œWe are optimistic, as several countries are now open for trade. We have witnessed initial signs of recovery from markets like the U.S., China, Europe and export orders have seen a steady rise month-on-month over the last 4-5 months.โ€

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