ENA Sectors 2019-01-07 07:32:15 <p><strong>New Delhi, Jan 7 (KNN)</strong> The country's gems and jewellery exports contracted by 6.77% to USD 20.74 billion in April-November this fiscal, mainly on account of demand slowdown in major developed markets, according to the Gems and Jewellery Export Promotion Council (GJEPC) data.</p> <p>The data also mentioned that exports stood at USD 22.24 billion in April-November period of 2017-18.</p> <p>As per the data, silver jewellery shipments during the period dipped by 82.6% to USD 503 million. </p> <p>And also the export of gold medallions and coins contracted by 84.7% during the eight months of 2018-19. </p> <p>Shipments of rough diamonds too reported a negative growth of 13.4%.</p> <p>Imports of gems and jewellery also dipped by 12.41% in April-November 2018-19 to USD 17.7 billion.</p> <p>Imports of rough diamonds contracted 13.27%, while that of gold bar jumped to USD 5.5 billion during the period as against USD 3.3 billion in April-November 2017.</p> <p>Gold jewellery shipments increased to USD 8 billion during the period from USD 6 billion in April-November last fiscal.</p> <p>During the period, consignments worth about USD 6 billion were returned compared with USD 5.4 billion in April-November 2017.</p> <p>China is the biggest competitor of India in the sector.</p> 21736 https://knnindia.co.in/news/newsdetails/sectors/gems-and-jewellery-exports-contracted-by-677-to-usd-2074-billion-in-apr-nov-this-fiscal-gjepc 2019-01-07 07:32:15 knnindia.co.in