India’s Gold Jewellery Exports Soared 11%

SEATTLE (Scrap Monster): The trade data released by the Gems & Jewellery Export Promotion Council (GJEPC) indicates notable surge in gold and silver jewellery exports in India during the month of April this year.

According to GJEPC data, the gold jewellery exports totaled $908.98 million in April 2019. This is over 11% higher when compared with the value of imports during the same month a year before.  It must be noted that the exports were valued at $815.90 million in April last year. In rupee terms, the exports registered nearly 18% increase from Rs. 5,355.54 crores to 6,311.06 crores.

Meantime, silver jewellery exports skyrocketed by more than 170% over the previous year. The value of exports surged higher from $31.70 million in April last year to $85.77 in April 2019. In rupee terms, the exports were up by 186% year-on-year from INR 208.05 crores to INR 595.50 crores.

Incidentally, the gold jewellery exports had surged by 24% during the entire previous fiscal, whereas the exports of silver jewellery had dropped sharply by almost 75%.

The exports of costume and fashion jewellery reported notable decline by more than 29% in April 2019 to total $0.96 million. The exports had totaled $1.36 in April ’18. The cut and polished diamond exports too witnessed notable decline by approximately 18% from $1,994.84 million to $1,642.95 million. On the contrary exports of Colored Gemstones have recorded marginal increase by 3.2% in April this year.