India, June 17 -- India's overall gems and jewellery exports saw a decline of 15.81% in May, falling to USD 2,263.42 million (Rs 19,260.81 crore), according to data released by the Gems and Jewellery Export Promotion Council (GJEPC) on Tuesday. The drop comes in the wake of recent tariff announcements by the United States.
In comparison, exports during the same period last year stood at USD 2,688.38 million (Rs 22,414.02 crore).
Exports of cut and polished diamonds were particularly impacted, plunging 35.49% to USD 949.70 million (Rs 8,089.81 crore), compared to USD 1,472.08 million (Rs 12,272.03 crore) in May of the previous year.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....