Saturday, 17 October 2020
The gems and jewellery export is expected to decline by 20-25 per cent this fiscal year compared to 2019-20 due to the disruptions caused by the COVID-19 pandemic, GJEPC said on Saturday.During 2019-20, the exports stood at Rs 2,52,249.46 crore, according to data provided by the Gem and Jewellery Export Promotion Council of India (GJEPC).
We expect the exports to witness a decline of 20 25 per cent in 2020-21, compared with last year. With demand improving gradually, we should be at our 2019-20 levels next year. Growth will come back only maybe by 2021-22, GJEPC chairman Colin Shah said at the virtual press conferenceabout the closing of 5-day Virtual India International Jewellery Show (IIJS).Due to the pandemic, GJEPC went virtual for IIJS 2020, which commenced on October 12, transforming the physical show into a complete virtual experience for exhibitors as well as domestic and global visitors.