GJEPC: India's Gold Jewellery Exports Surged 2%

SEATTLE (Scrap Monster): The recent trade data published by the Gem and Jewellery Export Promotion Council (GJEPC) of India for the entire fiscal year 2019-’20 (Apr ’19 to Mar ’19) suggests marginal jump in value of gold jewellery exports by the country. Meantime, the country’s silver jewellery exports skyrocketed, almost doubling from the prior fiscal year.

The country exported $11,992.57 Million (INR 84,887.36 Crores) worth of gold jewellery during the entire fiscal year. In rupee terms, the exports stood higher by more than 3%. The increase in dollar terms was 1.79%. The gold jewellery exports by the country had totalled only $11,919.76 Million (INR 83,238.46 Crores) in the fiscal year 2018-’19 (Apr ’18-Mar ’19).

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The gold jewellery exports through DTAs remained more or less flat over the previous fiscal, whereas those through SEZ/EPZs surged higher marginally by 2.35%. The exports of gold medallions and coins registered over 5% decline.

Meantime, the silver jewellery exports skyrocketed by 103% in Apr ’19-Mar ’19. The exports totalled USD 1,686.72 Million, upon comparison with the exports of $837.26 Million in the prior fiscal. In rupee terms, the exports surged higher from INR 5,903.30 Crores to INR 12,026.24 Crores.