India's July Gold, Silver jewelry exports decline significantly

Mumbai-India (Aug 22)  Exports of Gold from India during the period of July this year had a significant decline, Silver jewelry exports also declined drastically during the corresponding period, as per  Gems and Jewellery Export Promotion Council (GJEPC).

 Gold jewelry exports from India during July was seen to be $411.37 million when compared to $602.04 million exported during the corresponding period last year.  When compared with the month on month data the exports have declined by about 32 percent.

 Silver jewelery exports also declined by about 45 percent from $336.41 million during the period when compared to $185.93 in the same period last year. In rupee terms the gold and silver exports reported year on year declines of 35 percent and 47 percent respectively.

 During the first four months of the current fiscal, Gold jewelry exports have declined sharply by about 30 percent. The cumulative exports during the period from April to July this fiscal amounted to $2116.60 million, lower by 30.3 percent when compared with the corresponding four month period in 2016. The country’s Gold jewelery exports had totaled $3036.52 million during Apr-July 2016.

Source: ScrapRegister