India's Silver Jewellery exports fell 42% y/y in March, Gold exports up 19%

NEW DELHI (Scrap Monster) : The silver jewellery exports from India recorded significant decline of 41.89% year-on-year to $106.77 million (Rs. 651.43 Crore) in March 2014 while its gold jewellery exports picked up significantly by 18.99% year-on-year to $992.03 million, in accordance with the latest data released by the Gems and Jewellery Export Promotion Council (GJEPC).

According to GJEPC, country's cut and polished diamond exports in March reached $1,571.44 million, dropping 24.99% over the previous year. The country’s export of Coloured Gemstones plunged by 50.74% from $50.63 million in March 2013 to $24.94 million in March 2014. The exports of Pearls staged a rebound to $0.63 million from $0.29 million a year ago. The exports of Synthetic stones witnessed sharp rise of 221.80% from $2.34 million in March 2013 to $7.53 million in March 2014.

India's gold medallions & coin exports was reduced to almost half, dropping sharply to $250.92 million (Rs.1,530.89 Crore). The export of Rough diamond from the country dropped 8.01% in March. The total exports of Rough diamonds during the month totaled $183.77 million (Rs. 1,121.20 Crore).

In short, the figures released by the country’s Export Promotion Council demonstrate robust growth in exports of Gold Jewellery, whereas a sharp decline in exports of Silver Jewellery, Gold Medallions and Coins during March ‘14.