India's Gold Jewellery Exports Surged 13%

SEATTLE (Scrap Monster): The figures 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 September in 2019. The exports had recorded surge in August 2019 as well. Also, silver jewellery exports recorded substantial growth over the previous year.

In accordance with GJEPC data, the country’s total gold jewellery exports amounted to $1,019.65 million in Sep ’19. This compares with the exports of $903.11 million in the same month a year before. Year-on-year, the gold jewellery exports by the country have surged higher by nearly 13%. The combined exports during the first six months of the fiscal, from Apr ’19 to Sep ’19, totalled $6,119.75 million, marginally lower by nearly 1% year-on-year. India had exported $6,161.31 million worth of gold jewellery during corresponding half-yearly period during the previous fiscal.

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Meantime, the silver jewellery exports reported huge surge in export volumes in September 2019. The monthly exports increased by almost 49% from $79.70 million in Sep ‘18 to $118.72 million in September this year. The exports during Apr ‘19-Sep ‘19 edged higher considerably by almost 74% over the previous year, said GJEPC data.

The exports of Gold Medallion and Coins by the country skyrocketed by more than 200% during September. The exports totalled $71.63 Million, as compared with $23.82 in September last year. The exports during the six months from Apr ’18 to Sep ’19 too were up by almost 131% from $258.12 million in Apr ’19-Sep ’19 to $595.88 million.