India's Silver Jewellery exports surged 68% y/y in Feb, Gold exports climbed 17%

The silver jewellery exports from India sky rocketed by 68.27% year-on-year to $84.10 million (Rs. 523.55 Crore) in February 2014

NEW DELHI (Scrap Monster) : The silver jewellery exports from India sky rocketed by 68.27% year-on-year to $84.10 million (Rs. 523.55 Crore) in February 2014 while its gold jewellery exports picked up significantly by 16.97% year-on-year to $718.36 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 February reached $2,164.88 million, surging 34.43% over the previous year. The country’s export of Coloured Gemstones plunged by 72.17% from $243.73 million in February 2013 to $58.59 million in February 2014. The exports of Pearls too dropped significantly to $0.17 million from $0.50 million a year ago. However, the exports of Synthetic stones witnessed sharp rise of 213.75% from $3.49 million in February 2013 to $10.95 million in February 2014.

India's gold medallions & coin exports dropped sharply by 99.74% year-on-year to $0.84 million (Rs.5.23 Crore). The export of Rough diamond from the country dropped 23.67% in February. The total exports of Rough diamonds during the month totaled $112.58 million (Rs. 700.83 Crore).

In short, the figures released by the country’s Export Promotion Council demonstrate robust growth in exports of Silver and gold jewellery, whereas a sharp decline in exports of gold medallions and coins during February ‘14.