Gems and jewellery exports saw a 4.8% dip at $22.43 billion during April- November this year owing to demand slowdown in major markets, including the U.S. According to the Gems and Jewellery Export Promotion Council (GJEPC) data, exports stood at $23.56 billion in the same period last year.
The labour-intensive sector contributes about 14% to the country’s overall exports. The drop in shipments is mainly due to negative growth in the export of gold jewellery and gold medallions and coins.
Industry experts have sought support such as incentives under the Merchandise Exports from India Scheme (MEIS) to boost the shipments.