Jewellers to face lacklustre biz in FY21
The gems and jewellery sector is not hopeful of witnessing a significant rebound in business during the current fiscal amid the COVID-19 outbreak and the geopolitical tension across the world, industry sources said on Tuesday.
migrator
Kolkata
The fierce clash between troops of India and China in eastern Ladakh that left 20 Indian Army personnel dead, and the extension of tariff exemption to Bangladeshi products by China may invite fresh troubles for jewellery exporters, they said. “It would take a year to revive the sector,” Gem and Jewellery Export Promotion Council (GJEPC) Chairman Colin Shah said.
Jewellers are keeping their finger crossed for the upcoming festive season, Swarna Shilpa Bachao Committee secretary Bablu Dey said. “They are not bullish about their businesses this fiscal and do not foresee a spurt in discretionary spending by customers in the current situation, he said.
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