Apart from studded gold jewelery exports of plain jewelery also increased
Due to the worldwide corona virus, many countries are not showing much interest in doing business with China. Anti-China mentality is being seen in countries all over the world. India is getting the maximum benefit from this. Along with textiles, India’s gems and jewelery industry is also witnessing a boom due to anti-China polarization. For the first time in the history of India, the exports of the Indian Gems and Jewelery sector have increased by 93 percent as compared to last year.
Where Gems & Jewelery exports increased from $2768.97 million last year to $5352.52 million.
Apart from studded gold jewellery, there has also been an increase in the export of plain jewellery. Total gold jewelery (plain and studded) exports for 2021-22 stood at $9.13 billion, an increase of 84.56% from $4.945 billion recorded in 2020-21. The export of plain gold jewelery stood at $3774.17 million in 2021-22, an increase of about 73.44% as compared to $2176.06 million in the previous year. Similarly, cut and polished diamond exports stood at $24.24 billion in 2021-22, a 48.8% increase from $16.29 billion in the previous year.
Speaking about this, President of Surat Jewelery Manufacturers Association Jayanti Savalia said that Surat has contributed a lot in this visible growth in exports. Because Surat is a leader in manufacturing of natural and synthetic diamond and studded jewellery. Not only this, there is scope for further development in this.