Gold Jewellery Exports to Dubai Slip 24% in Apr-Now

Exports of plan gold jewellery from India to Dubai fell 24% in April-November compared to the pre-Covid-19 period as the pandemic took the sheen off the biggest over-seas market for local traders.

Dubai’s jewellery wholesalers said they reduce purchases from India because tourists were not coming to the country amid the pandemic.

“Tourist flow has come down due to Covid which is why the offtake has come down. However, we are hopeful that as the pace of booster dose picks up, tourist arrivals will improve in the country,” said Ramesh Bhogilal Vora, managing director, Bafleh jewelers, a Dubai-based importer of gold jewellery from India.

Overall gold jewellery exports in April-November fell 23.82% to Rs. 45,542.22 crore, as compared to Rs. 59,783.40 crore in April-November 2019.

Gold jewellery exports in November fell 33.83% to Rs. 5,286.23 crore from Rs. 7,988.70 crore in November 2019. Overall gems and jewellery exports fell 3,72% in November to Rs. 17,784.92 crore, compared to Rs. 18,471.31 crore in November 2019. However, overall exports of gems and jewellery grew 9.21% YOY in April-November.   S-ET

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