Mumbai (Bombay): The gems & jewelry export is awaited to decline by 20-25 percent this financial yr. compared to 2019-20 because of the disruptions caused by this COVID-19 epidemic, GJEPC stated on Sat..
Throughout 2019-20, the exports stood in INR 2,52,249.46 cr, as per statistics given by this Gem & Jewelry Export Promotion Council of India(In) (GJEPC).
“We expect the exports to witness a decline of 20 25 percent in 2020-21, compared with previous year. With insist enhancing steadily, we must be in our 2019-20 levels next yr..
Expansion going to return only maybe by 2021-22,” GJEPC chairman Colin Shah stated in the virtual press conference regarding the closing of 5-day Virtual India(In) Intl. Jewelry Show (IIJS).
Because of the epidemic, GJEPC went virtual for IIJS 2020, that commenced on Oct 12, transforming the physical show into a full virtual experience for exhibitors along with national & global visitors.
The event had over 330 exhibitors, & over 10,000 buyers toured the show.
Apart from, 9,900 meetings have been held & visitors lodged from that US, UK, UAE, Qatar, Singapore, Bangladesh, Nepal, Oman, Pakistan(PAK), Hong Kong, Italy, Egypt, Belgium, Turkey, Sri Lanka, amongst remaining attended within the show.
IIJS Virtual 2020 also generated an estimated business of over INR 1,000 cr.
“The Virtual IIJS 2020 has been quite important for our sector, as the COVID-19 lock-down from Mar to Sep was extremely tough for business, both exports along with national, manufacturing & retail.
“This last week took regarding that positivity & had become a turning point again in this yr..
A nice number of optimism has come into the sector again from that disconnect between buyers & exhibitors in the past 2 quarters. This had become an event where I guess everybody had come together,” Shah added further.
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