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Indian Gold Jewelry exports almost doubled during Apr-Oct 2014

iconNov 21, 2014 20:36
Source:SMM
The gold jewellery exports from India recorded significant surge of 97.65% year-on-year to $3,425.52 million (Rs. 20,700.66 crore) during the period from April to October this year.

Author: Paul Ploumis21 Nov 2014 Last updated at 07:18:46 GMT

NEW DELHI (Scrap Monster): The gold jewellery exports from India recorded significant surge of 97.65% year-on-year to $3,425.52 million (Rs. 20,700.66 crore) during the period from April to October this year. Also, the exports of silver jewelry picked up significantly by 34.84% year-on-year to $1,208.21million (Rs. 7,308.21 crores) during the seven-month period, in accordance with the latest data released by the Gems and Jewelry Export Promotion Council (GJEPC).

According to GJEPC, country's cut and polished diamond exports during April to October this year reached $14,303.68 million, declining 8.23% over the previous year. The country’s export of Colored Gemstones plunged by 43.80% from $441.72 million during Apr-Oct ’14 to $246.32 million in Apr-Oct ‘13. The exports of Pearls and Synthetic stones witnessed sharp fall of 21.14% from $53.21 million in Apr-Oct ‘13 to $41.72 million in the corresponding seven-month period in 2014.

India's gold medallions & coin exports remained almost flat, declining slightly by 0.24%. The exports dropped to $6,067.99 million (Rs. 1,014.63 crore). The export of Rough diamonds from the country was down 9.32% in Apr-Oct ‘14. The total exports of Rough diamonds during the period totaled $874.06 million (Rs. 5,274.00 Crore).

In short, the figures released by the country’s Export Promotion Council demonstrate robust growth in exports of Gold and Silver Jewelry, whereas a sharp decline in exports of Pearls and Gold Medallions during the initial seven months of the current fiscal year.

gold prices
gold futures
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gold premium
gold demand
jewellery
festive demand
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GJEPC
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