India's Gold, Silver Jewellery Exports Glitter During September

Mumbai (Oct 20)  India has reported significant jump in gold jewellery exports during September this year. The monthly data published by the Gems and Jewellery Export Promotion Council (GJEPC) also suggests huge increase in exports of silver jewellery from the country during the month.

According to GJEPC data, the country’s gold jewellery exports totaled $1,199.71 Million in September this year, as compared with the exports of $968.63 Million reported during the same month a year before. Over the previous year, the exports surged higher by nearly 24%. Also, silver jewellery exports skyrocketed by more than 57% from $237.39 Million in September last year to $372.08 Million in September ’17. In rupee terms the gold and silver jewellery exports reported year-on-year jump of 20% and 51% respectively.

The country’s gold jewellery exports during the initial half-yearly period from April ’17 to September ‘17 of the current fiscal have declined sharply by over 15%. The cumulative exports during the period from April to September this fiscal amounted to $4,044.33 Million, considerably down by 15.48% upon comparison with the corresponding six-month period during the previous fiscal. The country’s gold jewellery exports had totaled $4,784.94 Million during April to September in 2016.

On the other hand, the cumulative exports of Silver jewellery by the country during Apr-September ’17 were up by nearly 24%, mainly aided by the significant increase in exports reported during the previous month. The combined exports during the first six months of the fiscal year totaled $2,384.90 Million as against 1,918.22 Million a year before.

As per data, the exports of cut and polished diamonds by the country grew marginally during the month. The exports were up slightly by nearly 6% from $2,503.85 Million in September last year to $2,652.19 Million during the same month this year. Also, the cumulative exports in dollar terms during the first six months of the fiscal were up marginally by 1.67%.

India's export of gold medallions & coins fell significantly by 91% to $58.42 Million during September 2017. The exports during the same month a year before had totaled $671.24 Million. The exports during Apr-September ’17 too recorded decline by 37% from $2,625.13 Million in Apr-Sep ’16 to $1,658.89 during April to September in 2017.

The country’s exports of Pearls plunged heavily from $0.61 Million in September ’16 to $0.50 Million in September this year. The exports of Synthetic stones increased significantly from $13.86 Million to $20.58 Million year-on-year. The exports of Costume & Fashion Jewellery registered slight increase, edging higher from $5.68 Million to $5.96 Million in September this year. The export of Rough diamond from the country has declined by nearly 11% in September this year. The exports during the month totaled $143.59 Million.

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