In November, India’s gem and jewellery exports decreased by four.52% YoY to Rs 19,018.18 crore (USD 2,263.34 million), marking an improvement from the earlier 12 months. The Gem and Jewellery Export Promotion Council attributes the decline to supply disruptions and a voluntary halt in rough diamond imports due to geopolitical issues. GJEPC Chairman Vipul Shah anticipates further enchancment, citing heightened festival demand and expects FY24 exports to surpass the previous monetary yr. The assertion is supported by Australia Post information, which reveals online retailing has elevated by eighty per cent in the course of the pandemic, with more than 200,000 customers buying on-line for the primary time in April.
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