India Gold Jewellery exports witness sharp decline in April

 

NEW DELHI (Scrap Monster): The Indian gold jewellery exports plunged by over 18% year-on-year to $526.76 million (Rs. 3,305.44 Crore) in April 2015 while the country’s silver jewelry exports continued to remain strong, rising by nearly 12% year-on-year to $ 120.88 million (Rs. 758.55 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 Apr ‘15 touched $1,635.71 million, declining marginally by 11.30% over the previous year. The country’s exports of Coloured Gemstones remained more or less flat, increasing slightly from $25.70 million during Apr ‘14 to $25.76 million during Apr ‘15. Also, the exports of Pearls dropped to $0.07 million from $0.19 million a year ago. The exports of Synthetic stones jumped higher by almost 20% from $6.91 million in Apr 2014 to $8.38 million in Apr 2015.

 

India's export of gold medallions & coins during the month of April this year crashed to zero as compared with the exports of $319.54 million (Rs. 1,928.77 Crores) during the same month a year ago. The export of Rough diamond from the country has increased by 5% in Apr ‘15. The exports of Rough diamonds during the month totaled $111.59 million (Rs. 700.25 Crore).

 

The figures released by the country’s Export Promotion Council indicate that gold jewellery exports trended downwards in April when compared with the previous month. Similar downtick was witnessed in exports of Cut & Polished diamond, Gold Medallions and Coins. Meantime, silver jewellery exports too dropped significantly by nearly 65% in comparison with the previous month.