By Paul Ploumis 24 Aug 2015 Last updated at 08:16:42 GMT
NEW DELHI (Scrap Monster): The Indian gold jewellery exports declined sharply by nearly 10% year-on-year to $523.42 million (Rs. 3,330.53 Crore) in July 2015 while the country’s silver jewelry exports continued to remain strong, surging higher by 81.22% year-on-year to $ 339.93 million (Rs. 2,162.99 Crore). This is in accordance with the latest official monthly data released by the Gems and Jewellery Export Promotion Council (GJEPC).
According to GJEPC, country's cut and polished diamond exports in July ‘15 touched $1,512.74 million, declining by 18.34% over the previous year. The country’s exports of Coloured Gemstones recorded significant drop, falling sharply from $24.86 million during July ‘14 to $20.87 million during July ‘15. Also, the exports of Pearls halved to $0.07 million from $0.15 million a year ago. The exports of Synthetic stones have soared by almost 40% from $5.94 million in July 2014 to $8.30 million in July 2015.
India's export of gold medallions & coins during the month of July this year witnessed increased activity. The exports during the month totaled $426.85 million (Rs. 2,716.08 Crores). This is nearly five-folds higher when compared with the exports of $84.95 million (Rs. 510.24 Crores) recorded during the same month a year ago. Meantime, export of Rough diamond from the country has declined substantially by almost 58% in July ‘15. The exports of Rough diamonds during the month totaled $376.76 million (Rs. 59.21 Crore).
The figures released by the country’s Export Promotion Council indicate that gold jewellery exports trended downwards in July when compared with June 2015. Also, exports of Cut & Polished diamond recorded month-on-month decline. On the other hand, gold medallions and coins export rebounded. Alsoe, silver jewellery exports continued to remain robust in comparison with the previous month.