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The overall gems and jewellery exports declined by 25.71 per cent to Rs 1,85,952.34 crore during 2020-21, compared to the previous financial year, on account of COVID-related disruptions, industry body GJEPC said on Monday. The gross gems and jewellery exports during 2019-20 stood at Rs 2,50,319.89 crore, according to data by the Gem and Jewellery Export Promotion Council (GJEPC).

“2020-2021 was an exceptional year, yet the industry has shown resilience, adapted to the new normal and strived towards attaining recovery in exports in the second half of the year.

“Post witnessing a decline in the first three quarters, the gems and jewellery exports have witnessed a remarkable growth of 12.73 per cent in the fourth quarter,” GJEPC Chairman Colin Shah said in a statement.

Cut and polished diamonds (CPD) exports in FY21 declined by 8.87 per cent to Rs 1,20,302.04 crore from Rs 1,32,015.25 crore in the previous financial year.

Gold jewellery exports during FY21 witnessed a decline of 57.89 per cent to Rs 35,483.17 crore from Rs 84,270.81 crore in 2019-20.

Silver jewellery exports climbed 43.55 per cent to Rs 17,163.03 crore from Rs 11,955.75 crore in FY20.

Meanwhile, coloured gemstone exports during April 2020 to March 2021 dipped by 39.32 per cent to Rs 1,377.30 crore from Rs 2,269.69 crore in FY20.

In March, the overall exports grew by 73.98 per cent to Rs 24,729.57 crore, compared to Rs 14,214.24 crore in March 2020.

CPD exports during March went up by 117.58 per cent to Rs 15,530.11 crore from Rs 7,137.69 crore earlier.

Similarly, gold jewellery exports in March rose 22.50 per cent to Rs 5,505.19 crore from Rs 4,493.99 crore in the corresponding month of the previous fiscal.

“While Rough import of Diamonds stabilised post opening up, the non-availability of duty free gold to jewellery manufacturers have sharply impacted the plain gold jewellery exports leading to a decline of around 60 per cent.

“Improved international market demand in the third quarter owing to a robust holiday season, stimulated manufacturing across all product segments and overall gross exports,” Shah added.

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The line (new category) is available at only selected Superdry flagship stores. Developed for the Indian consumer, the products will shortly be distributed through major department stores and specialist beauty retailers PAN India. The fragrance collection is priced between Rs 399 to Rs 3,599 and the gift sets are at a starting price point of Rs 999 to Rs 4,999.

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“E-commerce allows us to reach our customers directly and take their direct feedback to give them a well-curated experience. Social platforms like Instagram and Facebook allow growing brands like ours to share the brand story and create a one-on-one connection with the customers. On the operations side, it allows us to analyse our sales, returns, and product level customer engagement data daily and react immediately if needed. We can optimise our inventory levels based on initial demand trends and not get stuck with unsellable inventory to liquidate,” adds Sharma.

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The matter is quite evident that sustainable fashion is not about producing clothes, shoes and acces-sories in environmentally and socio-economically sustainable manner; but it has an equal role per-taining to shifts in end users attitudes and behavior which should eventually lead us to be a strong opponents of fast fashion and be ‘responsibly fashionable’ instead.

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An ex-management student from IIPM, a master’s graduate in Exports Management from IMM and an MA holder in Political Science, he brings nearly 32 years of experience in the Indian retail space since 1987. Having spent a significant number of years with prominent retail brands like Vishal Megamart and V Mart, the man has literally witnessed the transition of a shopkeeper to an organised retailer. He now envisions to take the manoeuvres of 1-India Family Mart a notch higher towards an exceptional growth ladder in the country’s value retail space.

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