(*13*)Gems and Jewelery Export: A giant decline has been recorded in gems and jewelery exports in November and it has decreased by about 13 percent. In comparability to November final yr, the demand for jewelry, gems and gold and silver jewelery is nice in November this yr, however this yr as a result of ongoing issues on the worldwide entrance, they’re going through issues in their export. Due to extended geo-political pressure, gems and jewelery exports declined by 12.94 percent to $ 198.62 million (Rs 16,763.13 crore) in November. Gems and jewelery exports in November 2023 have been price $228.14 million.
(*13*)Export of minimize and polished diamonds additionally decreased
According to GJEPC knowledge, exports of minimize and polished diamonds declined by 39.81 percent to $666 million in November as in comparison with $1106.5 million in the identical interval final yr. Exports of polished laboratory-grown diamonds (provisional knowledge) throughout November declined by 42.37 percent to $62.8 million as in comparison with $109.1 million final yr.
(*13*)Growth seen in export of plain gold jewelery
However, exports of plain gold jewelery elevated by 72.12 per cent to $652.8 million in November, in comparison with $379.2 million in the identical interval final yr.
(*13*)What does the previous chairman of GJEPC must say?
Colin Shah, former chairman of GJEPC, mentioned that the lengthy-operating geo-political pressure stays a matter of concern for the Indian gems and jewelery business, attributable to which there was a slowdown in exports after seeing a growth in the final month. Therefore, any vital developments on the geopolitical entrance could proceed to disrupt commerce actions in the occasions to come back. However, he mentioned that as the vacation season is across the nook, we count on demand to stay robust attributable to elevated buying sentiment.
(*13*)learn this additionally
(*13*)Direct Tax Collection: A spectacular enhance of 16.45 percent in direct tax assortment, reaching Rs 15.82 lakh crore.
