By Anil Mathews (ScrapMonster Author)
July 19, 2016 11:31:12 PM
NEW DELHI (Scrap Monster): The Indian gold jewellery exports surged higher considerably by nearly 34% year-on-year to $769.09 million (Rs. 5,175.94 Crore) in June 2016. Meantime, the country’s silver jewelry exports too rose modestly to $ 292.0 million (Rs. 1,965.17 Crore). This is in accordance with the latest official monthly data released by the country’s Gems and Jewellery Export Promotion Council (GJEPC).
The country’s gold jewellery exports during the same month last year had totaled $604.43 million (Rs. 3,859.91 Crore). The silver jewellery exports during June 2015 had amounted to $274.78 million (Rs. 1,754.71 Crore).
The cumulative gold jewellery exports during the initial three-month period of the current fiscal were up significantly when matched with the previous year. The exports totaled $2,437.92 million (Rs. 16,305.22 Crore) during Apr-June ’16 as compared with the exports of $2,010.24 million (Rs. 12,763.22 Crore) during the corresponding three-month period in 2015.
The silver jewellery exports almost doubled during the initial three months of the current fiscal. The exports were up by 94% to $969.17 million (Rs. 6,482.71 Crore) during Apr-June ’16. India’s silver jewellery exports during April to June in 2015 had totaled $524.96 million (Rs. 3,338.08 Crore).
According to GJEPC, country's cut and polished diamond exports in June ‘16 touched $1,846.18 million, rising marginally over the previous year. The increase in rupee terms stood at 4.98%. The cumulative exports during Apr-June ‘16 too increased significantly by over 12% to $5,600.56 million.
The country’s exports of Coloured Gemstones recorded modest decline, falling from $56.46 million during June ‘15 to $45.30 million during June this year. The combined exports during Apr-June ’16 too recorded marginal decline from $109.65 million during last year to $100.58 million. Also, the exports of Pearls skyrocketed to $0.23 million in June ‘16 from $0.05 million a year ago. The exports of Synthetic stones too increased marginally from $9.80 million in June 2015 to $9.89 million in June this year.
India's export of gold medallions & coins reduced to $396.98 million during the month of June this year. The exports during the same month a year before had totaled $458.52 million (Rs. 2,928.14 Crores). The export of Costume and Fashion Jewellery more than tripled from $1.64 million (Rs. 10.46 Crore) in June ’15 to $5.38 million (Rs. 36.21 Crore) during June this year. Meantime, export of Rough diamond from the country too reported marginal increase in June ’16. The exports of Rough diamonds during the month totaled $129.74 million (Rs. 873.15 Crore).
The figures released by the country’s Export Promotion Council indicate that gold jewellery exports trended downwards in June when compared with April 2016. The exports of Colored gemstones recorded month-on-month increase. The export of gold medallions and coins surged higher during June ‘16 when matched with the previous month. On the other hand, silver jewellery exports dropped considerably in comparison with the previous month.
The GJEPC, set up by the by the Ministry of Commerce, Government of India in 1966 is the apex body of the gems & jewellery industry. Headquartered in Mumbai, the industry body represents almost 6,000 exporters in the sector.