India’s plain gold jewellery exports soared 66 percent in 2023-24, driven by UAE, Bahrain, and Australia.
In the fiscal year 2023-24, India witnessed a substantial surge of 66 percent in the export of plain gold jewellery, reaching ₹56,330 crore, as per data released by the Gem & Jewellery Export Promotion Council (GJEPC). Notably, the UAE, Bahrain, and Australia emerged as significant markets propelling this growth.
The total export of gold jewellery, comprising both plain and studded varieties, experienced a significant uptick of 20.51 percent, amounting to ₹93,087 crore from ₹77,247 crore in the previous fiscal year. However, the overall export of gems and jewellery declined by 11.66 percent to ₹2,67,374 crore compared to ₹3,02,673 crore.
While coloured gemstones saw a positive growth of 17.30 percent to ₹3,961 crore, platinum gold jewellery exhibited an impressive growth of 469 percent to ₹1,354 crore. On the contrary, cut and polished diamond exports declined by 25.23 percent to ₹1,32,132 crore, and silver jewellery exports nearly halved, decreasing by 43 percent to ₹13,427 crore.
