India’s Gold Jewellery Exports Surged 12%

SEATTLE (Scrap Monster): The trade data published by the Gem and Jewellery Export Promotion Council (GJEPC) of India for the month of October this year suggests modest jump in value of gold jewellery exports by the country. Also, the country’s silver jewellery exports witnessed significant surge, almost doubling from the previous year.

The country exported $1,066.99 Million (INR 7,577.59 Crores) worth of gold jewellery in October this year. In rupee terms, the exports stood higher by more than 9%. The hike in dollar terms was 12.49%. India’s gold jewellery exports had totalled only $948.51 Million (INR 6,983.92 Crores) in October last year.

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The combined exports during the first seven months from April ’19 to October ’19 this fiscal year totalled USD 7,266.72 Million, which is marginally higher by nearly 2.84% when matched with the imports of USD 7,066.35 Million during the corresponding seven-month period last fiscal.

Meantime, the silver jewellery exports increased significantly during the month of October. Also, the year-to-date exports this fiscal were higher when compared with the previous fiscal. The monthly exports surged higher by nearly 103% from USD 87.09 Million in October last year to USD 176.54 Million in October ‘19. The combined exports totalled USD 737.74 Million during Apr ’19- Oct ‘19, which is significantly higher by almost 81% over the previous year. The Indian silver jewellery exports had totalled only USD 407.90 Million during the initial seven-month period of the previous fiscal year.