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GJEPC Posts 15% Dip in Gold Jewellery Exports

The statistics published by India’s apex trade body, The Gem & Jewellery Export Promotion Council (GJEPC) suggests substantial decline in gold jewellery exports during the month of June 2019. Also, the cumulative exports during the first quarter (Apr-June ’19) of the fiscal year were down, upon comparison with the previous year.

According to provisional data published by GJEPC, the gold jewellery exports totaled $913.88 million in June this year, significantly lower by 15.41% when compared with the exports of $1,080.38 in June last year. India exported $3,033.78 million of gold jewellery during the first quarter of the current fiscal year, which is lower by more than 6% when compared with the corresponding three-month period in 2018. The Apr-June ’18 exports had totaled $3,234.91 million.

Meantime, the silver jewellery exports surged higher significantly. The June ’19 exports have surged higher by nearly 74% over the year to total $70.51 million. The cumulative exports until June almost doubled year-on-year from $119.09 million to $237.01 million, GJEPC data said.

The exports of Colored Gemstones reported notable decline by nearly 40% to $24.52 million in June this year. At $86.02 million, the exports during Apr-June ’19 were down by almost 12% over the previous year. The exports of Costume & Fashion Jewellery dropped by approximately 30% in June, whereas those of Polished Synthetic Stones skyrocketed by 365%. At the same time, exports of Pearls by the country remained more or less stable.