Where Can One Obtain the Latest Customs Data for India?

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ten data blog23-04-2024

The export data of platinum and pure gold jewelry for the years 2023-24 has brought hope to the Indian gem and jewelry industry. In the fiscal year 2023-24, India's export of platinum jewelry increased by 449%, rising from $29.77 million in the previous year to $163.48 million. The export of pure gold jewelry in the fiscal year 2024 soared by 62% to $6.79224 billion, compared to $4.19996 billion in 2022-23.

The UAE has emerged as a significant market for India's gold jewelry exports, witnessing a growth of 107.2% in the fiscal year 2023-24 to reach $4.52866 billion, compared to $2.18567 billion in the previous year. The UAE and Bahrain markets together account for over 85% of India's export of pure gold jewelry. Export of gold jewelry to Australia also increased by 37%.

During the period from April to September 2023, the total volume of gold jewelry (plain and studded) declined by 10.47%, but there was a strong rebound in the second half of the year, achieving a growth of 46.91%.

According to jewelry manufacturers, the demand for platinum jewelry is primarily driven by customers from the United States and Japan.

The preferences of the younger generation are more experimental, both in India and abroad. Over the past year, there has been a significant increase in preference for two-tone jewelry, leading to increased demand for platinum alloy jewelry. This alloy is more durable and holds precious metal value.

In the fiscal year 2023-24, the total export value of gold jewelry and studded gold jewelry increased by 16.75% to $11.23018 billion, compared to $9.6188 billion in the previous year.

Meanwhile, in 2023-24, the export value of cut and polished diamonds decreased by 27.58% to $15.96702 billion, compared to $22.04772 billion in the previous year.

The total export value of gem and jewelry decreased by 14.45% to $32.28585 billion in 2023-24, compared to $37.73705 billion in the previous period. The export total of lab-grown diamonds for polishing decreased by 16.54% to $1.40244 billion, down from $1.68029 billion in the previous year.

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Where can one obtain the latest customs data for India?

1. Obtain Customs Data from India to Find Suitable Buyers

Tendata Customs Database provides real-time access to customs data from over 90 countries, 42 countries along the Europe-Asia route, 10+ billion real-time trade data, and a database of 130 million importers and exporters. This assists you in understanding global market trade trends and distribution, allowing you to quickly, accurately, and scientifically target hot-selling countries and emerging markets for your products. >>>Inquire Online

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2. Present Trade Details and Directly Contact Buyers

Customs data is one of the fundamental tools for international traders to develop buyers, enabling you to move from market insights and competitor analysis to customer development.

Tendata iTrader offers various search criteria for detailed examination of each cross-border transaction, including exporter, importer, commodity type, transaction quantity, transaction amount, origin, carrier, departure port, arrival port, and more. Swiftly and comprehensively gather importers and exporters based on their procurement volume and preferences, pinpointing your target customers. By comparing historical import export data, you can quickly identify authentic importers and exporters, thereby providing you with accurate opportunities for successful transactions. >>>Click to Get Sample Online

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3. Professional Market Analysis to Seize Opportunities for Closing Deals

Which website is good for customs data inquiries? This is a question that many international trade enterprises are highly concerned about!

Tendata Customs Data Platform offers nearly 20 types of market analysis reports (>>>Click to Use Data Analytics for Free Online) that can be customized and analyzed in a multi-dimensional, visual manner. This enables you to effortlessly identify your peers' primary export markets and buyers. Through analyzing transaction quantities, prices, and supply chains of target buyers, as well as examining bill of lading details of successful buyers and competitor information, various data analysis reports are intelligently generated to highlight your competitive advantages, aiding you in capturing a larger market share.

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