ANI
25 Jan 2022, 19:25 GMT+10
New Delhi [India], January 25 (ANI): India's exports of gems and jewellery surged by 71 per cent to USD 28.9 billion in the first nine months of the current financial year as compared with USD 16.9 billion recorded in the corresponding period of last fiscal, the government data showed on Tuesday.
According to data released by the Ministry of Commerce and Industry, gems and jewellery exports rose to USD 2.99 billion in December 2021 as against USD 2.57 billion in December 2020, registering a year-on-year growth of 16.38 per cent.
The exports during the first nine months of the current financial year is higher when compared with the pre-Covid period.
Gems and jewellery exports during April-December 2019 period stood at USD 28.0 billion. During the first three quarters of the current financial year it is 3 per cent higher at USD 28.9 billion.
With USD 28.9 billion worth of gems and jewellery exports already achieved during the first three quarters of the current financial year, it has already surpassed USD 26.02 billion exports registered during complete year of 2020-21.
The gems and jewellery sector accounted for a 9.6 per cent share of India's entire exports basket during the period, garnering the second largest commodity share. Top 5 export destinations in April-November 2021 (latest available, share per cent in bracket) are: USA (38.7 per cent), Hong Kong (24.6 per cent), UAE (11.9 per cent), Belgium (6.6 per cent) and Israel (3.9 per cent).
The gems and jewellery industry contributes about 7 per cent to India's GDP and employs a skilled and semi-skilled workforce of more than 50 lakh. More than 450 organised jewellery manufacturers, importers and exporters are based in Surat city of Gujarat, making it the jewellery manufacturing hub of the world. (ANI)Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationRIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
New Delhi [India], July 9 (ANI): The 'Keel Laying' ceremony of the third Fleet Support Ships (FSS) of the Indian Navy was held at L&T...
Kochi (Kerala) [India], July 9 (ANI): The Kerala government has filed an appeal against the High Court single bench order quashing...
New Delhi [India], July 9 (ANI): Stressing that Punjab needs more water to cater to its irrigation needs, as most of the state's river...
Hyderabad (Telangana) [India], July 9 (ANI): Telangana Irrigation, Food and Civil Supplies Minister Capt. N. Uttam Kumar Reddy on Wednesday...
Hyderabad (Telangana) [India], July 9(ANI): Senior Congress leader V Hanumanth Rao on Wednesday held a day-long dharna near the Rajiv...
Mandi (Himachal Pradesh) [India], July 9 (ANI): Stressing the Central government's relief measures for disaster-affected Himachal Pradesh,...