FTAs with UAE and recently with Australia is working in favour of gem & jewellery exports from India. Post the India-UAE CEPA, India’s Plain Gold Jewellery exports for the period April – December 2022 (9MFY2023), grew 20.98% to ?24242.91 crores. For December 2022, the total gross export of Plain Gold Jewellery grew 21.31% to ?2,369.74 crores (10.97% in dollar terms to US$ 287.46 million) as compared to ?1,953.46 crores (US$ 259.05 million) for the same period last year.
For the cumulative fiscal year-to-date period of April – December 2022, the overall gross exports of gems & jewellery witnessed a growth of 6.28% to ?227,534.50 crores (declined 0.73% in dollar terms to US$ 28,608.22 million) as compared to ?214,087.94 crores (US$ 28,819.88 million) for the same period last year.