India’s Gold Jewellery Exports Witnessed Notable Decline in June

SEATTLE (Scrap Monster): The trade data published by the Gem and Jewellery Export Promotion Council (GJEPC) of India for the month of June this year suggests notable decline in the value of gold jewellery exports by the country. On the contrary, the country’s silver jewellery exports witnessed significant surge during the month.

The country exported $237.05 Million (INR 1,796.67 Crores) worth of gold jewellery in June 2020. In rupee terms, the exports stood lower by approximately 35%. The decline in dollar terms was almost 41%. India’s gold jewellery exports had totalled only $399.89 Million (INR 2,755.95 Crores) in June last year.

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The combined exports during the first three months from April ’20 to June 2020 of the current fiscal year totalled USD 32.24 Million, which is down by nearly 79% when matched with the exports of USD 1,536.57 Million during the corresponding three-month period last fiscal.

Meantime, the silver jewellery exports increased significantly during the month of June this year. The monthly exports surged higher by nearly 199% from USD 80.01 Million in June last year to USD 238.96 Million in June 2020. Also, the year-to-date exports this fiscal were up by almost 93% when compared with the previous fiscal.