India's Gold Jewellery Exports Surged 32%

SEATTLE (Scrap Monster): The provisional 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 first month of 2019. However, silver jewellery exports continued to decline over the previous year.

In accordance with GJEPC data, the country’s gold jewellery exports totaled $866.99 million in Jan ’19. This compares with the exports of $655.05 million in Jan ’18, thereby translating to a year-on-year increase of 32.35%. The combined exports during the first ten months of the fiscal, from Apr ’18 to Jan ’19, totaled $9,845.66 million, considerably higher by over 27% year-on-year. India had exported only $7,746.72 million worth of gold jewellery during corresponding ten-month period during the previous fiscal.

Meantime, the silver jewellery exports continued to exhibit declining trend in January 2019. The monthly exports plunged heavily by nearly 29% from $146.73 million in Jan ‘18 to $104.38 million in Jan ’19. The exports during Apr ‘18-Jan ’19 declined sharply by almost 79% over the previous year, said GJEPC data.

The exports of Costume & Fashion jewellery by the country recorded marginal growth in Jan ’19. The exports, at $5.57 million, were 3.15% higher than Jan ’18. The exports during the ten months from Apr ’18 to Jan ’19 too were up by almost 8% from $51.68 million in Apr ’17-Jan ’18 to $55.75 million.