Latest news with #IIJSPremiere
Time of India
a day ago
- Business
- Time of India
Gem and jewellery exports surge ahead of US tariff deadline
Surat: Ahead of the US's 50% tariff coming into effect on Aug 27, exports of gems and jewellery (G&J) grew by 16% in July, while exports of cut and polished diamonds (CPD) grew by 18%, compared to the same month last year. After two years of declines, July saw overall gross exports of gems and jewellery rise to $2.17 billion from $1.87 billion in July 2024. Overall gross exports of CPD grew to $1.07 billion, compared to $910 million last July. Polished lab-grown diamond exports grew by 27.6% to $122 million from $96 million last year. For April-July 2025, polished lab-grown diamond exports declined by 8% to $381 million from $416 million. Diamond manufacturers from Surat said they have shifted goods to the US ahead of the tariff deadline. "All the exported goods may not be sold products, but to avoid the tariff, we shifted stock ahead of the festive season. The goods are in the possession of our offices in the US and will be sold according to orders," said a diamond manufacturer with operations across the world. In value terms, a significant increase in plain and studded jewellery exports was recorded, largely due to the rising value of gold. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Treatment That Might Help You Against Knee Pain Knee pain | search ads Find Now In July, plain and studded gold jewellery exports grew by 16% to $814 million compared to $699 million last year. For the April-July period, plain and studded gold jewellery exports grew by 24% to $3.66 billion from $2.96 billion last year. In July, plain gold jewellery exports grew by 15.61% to $352 million from $305 million. For the April-July period, plain gold jewellery exports grew by 48.66% to $1.82 billion from $1.22 billion. In July, studded gold jewellery exports grew by 17% to $461 million from $394 million. For April-July 2025, studded gold jewellery exports grew by 6% to $1.83 billion from $1.73 billion. "It is good to see encouraging signs for our industry in the July export figures, a successful IIJS Premiere with substantial order bookings, and the Hong Kong market bouncing back strongly. This performance is heartening, especially as it comes amid global challenges such as the ongoing impact of US tariffs," said Kirit Bhansali, chairman of the Gem and Jewellery Export Promotion Council (GJEPC). Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
Time of India
a day ago
- Business
- Time of India
Festive sparkle lifts exports: Gem and jewellery shipments jump 15.98% to $2.18 bn in July, Hong Kong rebound aids growth
Strong order bookings at the India International Jewellery Show (IIJS) Premiere and a recovery in the Hong Kong market pushed India's gem and jewellery exports up 15.98% year-on-year to $2,178.24 million (Rs 18,756.28 crore) in July, according to data from the Gem and Jewellery Export Promotion Council (GJEPC). Exports in July 2024 stood at $1,878.09 million (Rs 15,700 crore), PTI reported. 'The July exports are good and an encouraging sign for our industry. It mainly got a boost from successful substantial order bookings during the IIJS Premiere and a strong bounce back of the Hong Kong market. This performance is heartening, especially as it comes amid global challenges, such as the ongoing impact of the US tariffs,' GJEPC Chairman Kirit Bhansali said. The recently concluded IIJS Premiere 2025 generated estimated orders worth Rs 70,000–90,000 crore, lifting industry sentiment ahead of the festive season, the council said. Bhansali added that the industry is gearing up for SAJEX 2025 in Saudi Arabia this September, expected to open new trade and investment avenues in the Gulf. Within the broader exports basket, cut and polished diamond shipments rose 17.76% to $1,071.73 million (Rs 9,230.66 crore) in July from $910.13 million (Rs 7,608.79 crore) a year earlier. Polished lab-grown diamond exports increased 27.61% to $122.43 million (Rs 1,054.65 crore) from $95.94 million (Rs 802.16 crore). Gold jewellery exports climbed 16.39% to $813.77 million (Rs 7,005.96 crore) against $699.17 million (Rs 5,844.28 crore) in July 2024, the data showed. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
