India Gold Jewellery exports record marginal rise in May

By Paul Ploumis 18 Jun 2015 Last updated at 08:19:31 GMT

DELHI (Scrap Monster): The Indian gold jewellery exports increased marginally by nearly 1% year-on-year to $478.65 million (Rs. 3,053.77 Crore) in May 2015 while the country’s silver jewelry exports continued to remain strong, rising by 15.98% year-on-year to $ 121.55 million (Rs. 775.48 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 May ‘15 touched $1,742.30 million, declining by 9.34% over the previous year. The country’s exports of Coloured Gemstones recorded significant decline, falling sharply from $32.48 million during May ‘14 to $27.16 million during May ‘15. Also, the exports of Pearls dropped almost 43% to $0.04 million from $0.07 million a year ago. The exports of Synthetic stones have decreased by almost 29% from $6.17 million in May 2014 to $4.41 million in May 2015.

India's export of gold medallions & coins during the month of May this year witnessed some activity. The exports during the month totaled $0.01 million (Rs. 0.09 Crores). There were no exports recorded during the same month a year ago. The export of Rough diamond from the country has slumped by 17.43% in May ‘15. The exports of Rough diamonds during the month totaled $117.68 million (Rs. 750.82 Crore).

The figures released by the country’s Export Promotion Council indicate that gold jewellery exports trended downwards in Mayl when compared with April 2015. On the other hand, exports of Cut & Polished diamond, Gold Medallions and Coins rebounded. Meantime, silver jewellery exports continued to climb higher, though marginally by 0.55%, in comparison with the previous month.