India gold jewellery exports almost doubled in February

By Anil Mathews (ScrapMonster Author)

March 15, 2016 05:01:09 AM

NEW DELHI (Scrap Monster): The Indian gold jewellery exports surged higher considerably by over 91% year-on-year to $844.59 million (Rs. 5,763.47 Crore) in February 2016 while the country’s silver jewelry exports skyrocketed by over 175% to $ 266.70 million (Rs. 1,819.99 Crore). This is in accordance with the latest official monthly data released by the country’s Gems and Jewellery Export Promotion Council (GJEPC).

According to GJEPC, country's cut and polished diamond exports in February ‘16 touched $2,337.47 million, increasing slightly by 2% over the previous year. The country’s exports of Coloured Gemstones too recorded marginal rise, increasing from $106.34 million during February ‘15 to $266.70 million during February this year. Also, the exports of Pearls declined to $0.55 million in Feb ‘16 from $0.84 million a year ago. The exports of Synthetic stones dropped marginally from $6.88 million in February 2015 to $6.43 million in February this year.

India's export of gold medallions & coins declined significantly during the month of February this year. The exports during the month totaled $250.38 million (Rs. 1,708.60 Crores). This is significantly lower when compared with the exports of $416.16 million (Rs. 2,581.87 Crores) recorded during the same month a year before. Meantime, export of Rough diamond from the country has surged higher considerably in February ‘16. The exports of Rough diamonds during the month totaled $130.79 million (Rs. 892.53 Crore).

The figures released by the country’s Export Promotion Council indicate that gold jewellery exports trended downwards in February when compared with January 2016. The exports of Colored gemstones too recorded month-on-month rise. The export of gold medallions and coins export plunged during Feb ‘16 when matched with the previous month. Also, silver jewellery exports remained flat in comparison with the previous month.