GJEPC: India’s gold jewellery exports tumbled 24% in Jan 2017

The Indian gold jewellery exports dropped significantly by more than 24 per cent year-on-year to $397.71 million (2,707.58 Crore) in January 2017. Also, the country’s silver jewellery exports recorded marginal drop of nearly 4 per cent to $ 253.60 million (1,726.49 Crore). This is in accordance with the latest official monthly data released by the country’s Gems and Jewellery Export Promotion Council (GJEPC). The country’s gold jewellery exports during the same month in 2016 had totaled $530.33 million (3,566.49 Crore). The silver jewellery exports during January 2016 had amounted to $266.21 million (1,790.23 Crore).

The cumulative gold jewellery exports during the initial ten-month period of the current fiscal were up significantly by 14.17 per cent when matched with the previous year. The exports totaled $7,528.82 million (50,538.09 Crore) during the ten months from Apr ’16 to Jan ’17 as compared with the exports of $6,801.79 million (Rs. 44,263.76 Crore) during the corresponding ten-month period during the previous fiscal year.

The silver jewellery exports surged higher considerably during the initial ten months of the current fiscal. The exports were up by nearly 24 per cent to $2,937.92 million (19,737.21 Crore) during Apr ’16 –Jan ‘17. According to GJEPC, country’s cut and polished diamond exports in January ’17 touched $1,617.27 million, recording modest jump over the previous year. The rise in rupee terms stood at around 4 per cent. Also, the cumulative exports from Apr ’16 to Jan ‘17 too increased sharply by nearly 16 per cent to $18,501.59 million.

The country’s exports of Coloured Gemstones recorded 13.32 per cent jump, rising from $37.01 million during Jan ‘16 to $41.43 million during January this year. However, the combined exports during Apr ‘16-Jan ’17 recorded marginal decline from $339.74 million a year before to $326.33 million. Also, the exports of Pearls more than halved to $0.08 million in Jan ‘17 from $0.18 million a year ago. On the other hand, exports of Synthetic stones surged significantly from $2.79 million in January 2016 to $14.00 million in January this year.

Courtesy: Metal.com