India’s gems and jewelry export declined 11.28% during April to July

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The provisional figures released by the Gem and Jewellery Export Promotion Council, India (GJEPC) indicates that the total exports of gems and jewelry during the period of four months from April to July this year fell by around 11% year-on-year.
The GJEPC figures show that the total exports of gems and jewelry from the country during April-July timeframe this year amounted to Rupees 62,311.76 crores ($11,003.57 million), which is 11.28% lower than the total exports of Rupees 70,231.97 ($12,847.82) during April to July  2012. The above dollar figures are on the basis of the revised average dollar exchange rates as per the Reserve Bank of India (RBI).
The exports of cut and polished diamonds recorded a stable growth of 43.82% during April to July year-on-year. Gold jewelry exports through domestic tariff area (DTA) also saw a jump of 17.22% in comparison with the period from April to July the previous year. However, the exports of gold jewelry, coins and gold medallions through Special Economic Zone (SEZ) / Export Processing Zone (EPZ) routes plummeted by 68.65%.
The exports of Colored gem stones and silver jewelry during April to July of this year shot up by 121.12% and 181.13% respectively. The exports of rough synthetic stones, rough pearls and platinum also grew slightly by 4.23% when compared to the exports during the same four months in 2012.
Rough diamond exports by the country also soared by 52.67% from INR 2,325.48 crores in April-July-12 to INR 3,550.33 crores in April-July -13.
The apex body of the Indian gem and jewelry industry states that the April-July 2013 figures are provisional and are subject to change. Moreover, the figures are exclusive of the data for costume/fashion jewelry and sales to foreign tourists.

Source: resourceinvestor
Source:BullionBulletin

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