ENA Sectors 2024-07-29 16:40:14 <p><span style="font-size:14px"><strong>New Delhi, Jul 29 (KNN)</strong> In the first two months of the fiscal year, India's gems and jewellery sector experienced a downturn in exports, according to recent performance data.</span></p> <p><span style="font-size:14px">The overall gross exports for April-May 2024 totalled USD 4,691.6 million, marking a 5.9 per cent decrease compared to the same period last year.</span></p> <p><span style="font-size:14px">The cut and polished diamonds segment, a significant contributor to the sector, witnessed a more pronounced decline. Exports in this category fell by 15.5 per cent, reaching USD 2,627 million.</span></p> <p><span style="font-size:14px">The emerging lab-grown diamond industry also faced challenges. Provisional gross exports of polished lab-grown diamonds decreased by 15.5 per cent, amounting to USD 204.2 million.</span></p> <p><span style="font-size:14px">This figure stands in contrast to the USD 241.6 million recorded during the corresponding period in 2023.</span></p> <p><span style="font-size:14px">These figures suggest a broader slowdown in the gems and jewellery sector, potentially reflecting global economic trends and shifting consumer preferences.</span></p> <p><span style="font-size:14px">Industry analysts will be closely monitoring these developments in the coming months to assess whether this represents a temporary fluctuation or a more sustained trend.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38778 https://knnindia.co.in/news/newsdetails/sectors/indian-gems-and-jewellery-sector-reports-decline-in-exports 2024-07-29 16:40:14 knnindia.co.in