NEW DELHI (Scrap Monster): The Indian gold jewellery exports surged higher significantly by nearly 35% year-on-year to $877.0 million (Rs. 5,954.82 Crore) in December 2016. Also, the country’s silver jewellery exports recorded sharp jump by nearly 65% to $ 241.99 million (Rs. 1,643.12 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 in 2015 had totaled $662.12 million (Rs. 4,409.74 Crore). The silver jewellery exports during December 2015 had amounted to $149.76 million (Rs. 997.41 Crore).
The cumulative gold jewellery exports during the initial nine-month period of the current fiscal were up significantly by nearly 16% when matched with the previous year. The exports totaled $7,043.04 million (Rs. 47,242.43 Crore) during Apr-Dec ’16 as compared with the exports of $6,271.46 million (Rs. 40,697.27 Crore) during the corresponding nine-month period during the previous fiscal year.
The silver jewellery exports increased considerably during the initial nine months of the current fiscal. The exports were up by nearly 27% to $2,684.32 million (Rs. 18,010.72 Crore) during Apr-December ’16. India’s silver jewellery exports during April to December in 2015 had totaled $2,190.28 million (Rs. 14,219.03 Crore).
According to GJEPC, country's cut and polished diamond exports in December ‘16 touched $1,478.75 million, increasing considerably over the previous year. The rise in rupee terms stood at around 25%. Also, the cumulative exports during Apr-Dec ‘16 too increased modestly by over 17% to $16,884.37 million.
The country’s exports of Coloured Gemstones recorded 56.38% jump, rising from $15.98 million during Dec ‘15 to $24.51 million during December last year. However, the combined exports during Apr-Dec ’16 recorded marginal decline from $302.73 million during 2015 to $289.78 million. Also, the exports of Pearls reduced by one-fourth to $0.09 million in Dec ‘16 from $0.12 million a year ago. On the other hand, exports of Synthetic stones surged significantly from $2.93 million in December 2015 to $8.90 million in December last year.
India's export of gold medallions & coins declined to $372.38 million (Rs. 2,528.47) during the month of December 2016. The exports during the same month a year before had totaled $385.58 million (Rs. 2,567.98 Crores). The export of Costume and Fashion Jewellery surged multifold from $2.09 million (Rs. 13.93 Crore) in December ’15 to $6.01 million (Rs. 40.81 Crore) during December last year. Meantime, export of Rough diamond from the country declined by around 20% in December ’16. The exports of Rough diamonds during the month totaled $80.07 million (Rs. 543.69 Crore).
The figures released by the country’s Export Promotion Council indicate that gold jewellery exports increased in December last year when compared with the prior month. The exports of Colored gemstones recorded month-on-month increase. The export of gold medallions and coins increased sharply during December ‘16 when matched with the month before it. However, silver jewellery exports dropped in comparison with the prior 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.