GJEPC: India’s Gold Jewellery Exports Zoomed 50% in April

The exports of gold medallions and coins recorded sharp decline during the first month of the new fiscal year.

SEATTLE (Scrap Monster): The gems and jewellery export statistics published by the Gems and Jewellery Promotion Council (GJEPC) suggests notable rise in exports of gold jewellery by India during April this year. The exports continued to maintain strong momentum during the initial month of the new fiscal year.

According to GJEPC data, the country’s gold jewellery exports totaled Rs 5,993.19 crores (USD 913.04 Million) during the month. In dollar terms, the exports surged higher by 49.61%, whereas in rupee terms the exports were up by 52.24%. This is when compared with the exports during the corresponding month last year. The Indian gold jewellery exports had totaled Rs 3,936.79 crores (USD 610.26 Million) in April 2017. It must be noted that the gold jewellery exports during the entire previous fiscal year ended March 31, 2018 had recorded year-on-year jump of nearly 11%.

Meantime, the silver jewellery exports tumbled in April 2018. The exports totaled Rs 224.43 crores (USD 34.19 Million) during the month, when matched with the exports of Rs 4,965.87 crores (USD 769.78 Million) during April last year. The fall in dollar as well as rupee terms exceeded 95% year-on-year. The combined exports of silver jewellery had recorded 16% decline during the previous fiscal.

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The exports of gold medallions and coins recorded sharp decline. The April 2018 exports totaled $68.41 million, as compared with the exports of $553.59 million recorded during the same month last year. The country’s exports of costume and fashion jewellery edged higher marginally to $5.43 million in Apr ’18, upon comparison with $5.34 million in the same month a year before. The exports of Synthetic Stones too were up by nearly 7% from $14.60 million in April 2017 to $15.34 million in April this year.

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