India’s Gold Jewellery Exports Rose Rapidly

Meantime, the silver jewellery exports by the country registered 83% decline over the previous year to total $503.17 million in Apr-Nov ’18.

SEATTLE (Scrap Monster): The Gem and Jewellery Export Promotion Council (GJEPC) of India reported significant surge in exports of gold jewellery by the country during the first eight months (Apr-Nov ’18) of this fiscal year. However, the monthly exports declined slightly in November 2018 when compared with the previous year. Meantime, silver jewellery exports plunged sharply during Nov ’18. The year-to-date exports too were down considerably.

According to GJEPC data, India exported $8,097.06 million of gold jewellery during Apr-Nov ’18. This is significantly higher by almost 36% when compared with the exports of $6,077.93 million during the corresponding eight-month period last fiscal. The exports, in rupee terms, registered 46% jump over the year from INR 39,244.24 crores to INR 56,283.78 crores. The monthly exports totaled $867.59 million in November this year, marginally lower by nearly 9% when matched with $954.01 million in November 2017.

Meantime, the silver jewellery exports by the country registered 83% decline over the previous year to total $503.17 million in Apr-Nov ’18. The exports had totaled $2,893.79 million in Apr-Nov ’17. The Nov ’18 exports too were down sharply by over 61% to $85.90 million from $221.92 million in November last year.

The country’s monthly exports of Costume and Fashion Jewellery have declined by almost 2% from $1.62 million to $1.59 million. The cumulative exports shot up by 10% from $37.56 million to $41.33 million.

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