Diamond exports see 23% rise despite Covid

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New Delhi, January 21

Despite Covid striking at intervals in most of its exports destinations, outbound shipments of cut and polished diamonds in April-December 2021 grew by 23% to $18 billion. Gold jewellery exports too rose by 25.41% to $6.91 billion, said the Gem and Jewellery Export Promotion Council (GJEPC).

The prime reason for the diamonds retaining their allure during the worldwide economic downturn was holiday and festive demand remaining robust. Overall, gems and jewellery exports grew by 5.76% to $29.08 billion during the first nine months of the current fiscal, the GJEPC said.

“The demand was robust in important trading centres and we have every reason to believe that this momentum will carry through the end of FY22, bringing us closer to the target of $41.67 billion in exports,” said GJEPC chairman Colin Shah.