Gold Jewellery Exports Soared 17% in India

SEATTLE (Scrap Monster): The monthly statistics of export of gems and jewellery items published by the Gem & Jewellery Export Promotion Council (GJEPC) suggests notable surge in volume of gold jewellery exports from India during the month of March this year. Also, silver jewellery exports saw notable jump over the previous year in March, although cumulative exports continued to remain lower during the full fiscal year.

In accordance with GJEPC data, the country’s gold jewellery exports totaled $1,139.53 million in Mar ’19. This compares with the exports of $976.43 million in March last year. This translates to a year-on-year increase of 16.70%. The combined exports during the full fiscal year from Apr ’18 to Mar ’19, totaled $12,028.66 million, considerably higher by over 24% year-on-year. India had exported only $9,673.18 million worth of gold jewellery during the fiscal year before that.

The silver jewellery exports witnessed notable increase in March 2019. The monthly exports were up by over 31% from $51.78 million in Mar ‘18 to $67.86 million in Mar ’19. The exports during Apr ‘18-Mar ’19 declined sharply by almost 75% over the previous year, said GJEPC data.

The exports of Costume & Fashion jewellery by the country recorded marginal decline in Mar ’19. The exports, at $6.25 million, were down by nearly 10% when compared with Mar ’18. The exports during the full fiscal year from Apr ’18 to Mar ’19 were up by almost 5% year-on-year from $64.35 million to $67.49 million.