Two-Fold Jump in India’s Gold Jewellery Exports
Meantime, the silver jewellery exports by the country registered 88% decline over the previous year to total $239.04 million in Apr-Aug ’18.
The Gem and Jewellery Export Promotion Council (GJEPC) of India reported two-fold jump in exports of gold jewellery by the country during the first five months (Apr-Aug ’18) of this fiscal year. The monthly exports in August 2018 too were higher when compared with August last year. On the contrary, silver jewellery exports tumbled sharply during Aug ’18 as well as the initial five-month period of the current fiscal.
According to GJEPC data, India exported $5,117.80 million of gold jewellery during Apr-Aug ’18. This is significantly higher by almost 90% when compared with the exports of $2703.66 million during the corresponding five-month period last fiscal. The exports, in rupee terms, registered two-fold jump over the year from INR 17,398.94 crores to INR 34,699.98 crores. The monthly exports totaled $786.77 million in August this year, 35% higher when matched with $580.90 million in the same month a year before.
Meantime, the silver jewellery exports by the country registered 88% decline over the previous year to total $239.04 million in Apr-Aug ’18. The exports had totaled $2,008.19 million in Apr-Aug ’17. The Aug ’18 exports too were down sharply to $67.22 million from $93.45 million in Aug ’17.
The country’s monthly exports of Costume and Fashion Jewellery surged higher by nearly 12% from $1.60 million to $1.79 million. The cumulative exports shot up by 35% from $21.64 million to $29.11 million.