Surge in costs attributed to news of US warship and commercial ships assault in Red Sea. In November, India’s gem and jewelry exports decreased by 4.52% YoY to Rs 19,018.18 crore (USD 2,263.34 million), marking an enchancment from the previous 12 months. The Gem and Jewellery Export Promotion Council attributes the decline to supply disruptions and a voluntary halt in tough diamond imports due to geopolitical points Jewelery News. GJEPC Chairman Vipul Shah anticipates additional enchancment, citing heightened festival demand and expects FY24 exports to surpass the previous monetary yr. “If economic circumstances worsen, driving elevated demand for defensive belongings,…