Gems, jewelery exports expected to improve in second half of current financial year: GJPEC

India’s gems and jewelery exports are expected to pick up in the second half of the current financial year with revival in export demand. The Gems and Jewelery Export Promotion Council (GJEPC) gave this information on Thursday. GJEPC is exploring new markets including Vietnam, Cambodia, Thailand, Myanmar, Bangladesh and Sri Lanka to boost exports. GJEPC Chairman Vipul Shah told reporters on the sidelines of the opening ceremony of IIJS (India International Jewelery Show), “The global geo-political situation affected exports in the last financial year. We are expecting a recovery in exports in the second half of this year following festive demand in the US and Europe.

On the sidelines of the opening ceremony of the India International Jewelery Exhibition (IIJS) Premiere 2023, Shah told reporters, “The Chinese market is improving and the Council is also exploring new export markets and increasing penetration in existing markets.” Is. This will also give a boost to our gems and jewelery exports.” Shah said that during the 39th edition of IIJS Premiere, a five-day exhibition from August 3 to 7, delegations from over 65 countries would participate and a turnover of over Rs 50,000 crore would be witnessed here. is expected to be created.

He added that GJEPC is hosting the India show along with the Hong Kong show in September. It will provide an important platform for Indian gems and jewelery businesses to showcase their offerings to international buyers. US Consul General Mike Hankey said that the historical ties between India and the US have grown stronger over time, especially in the gems and jewelery sector.

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