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Silver March 18, 2015 08:02:53 AM

India's Gold Jewellery exports tumbled 40% in February: GJEPC

Paul Ploumis
ScrapMonster Author
The gold jewellery exports plunged by nearly 40% year-on-year to $443.79 million (Rs. 2,753.27 Crore) in Feb 2015

India's Gold Jewellery exports tumbled 40% in February: GJEPC

NEW DELHI (Scrap Monster): The gold jewellery exports plunged by nearly 40% year-on-year to $443.79 million (Rs. 2,753.27 Crore) in Feb 2015 while the country’s silver jewelry exports climbed higher by nearly 30% year-on-year to $ 111.82 million (Rs. 693.715 Crore). This is in accordance with the latest data released by the Gems and Jewellery Export Promotion Council (GJEPC).

According to GJEPC, country's cut and polished diamond exports in Feb ‘15 touched $2,293.27 million, increasing marginally by 4.36% over the previous year. The country’s exports of Coloured Gemstones surged by 8.73% from $63.09 million during Feb ‘14 to $68.60 million during Feb ‘15. However, the exports of Pearls dropped to $0.13 million from $0.17 million a year ago. The exports of Synthetic stones dropped by 37.17% from $10.95 million in Feb 2014 to $6.88 million in Feb 2015.

India's export of gold medallions & coins during the month of February this year remained marginal at $0.01 million as compared with the exports of $0.84 million (Rs. 5.23 Crores) during the same month a year ago. The export of Rough diamond from the country declined sharply by 22% in Feb ‘15. The exports of Rough diamonds during the month totaled $87.78 million (Rs. 544.59 Crore).

The figures released by the country’s Export Promotion Council indicate that gold jewellery exports further weakened in February when compared with the previous month. Similar weakness was witnessed in exports of Rough diamond, Gold Medallions and Coins. On the other hand, silver jewellery exports jumped higher significantly.

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