India’s gems & jewellery exports dip 1.21% in FY 14
India’s gems & jewellery exports fell marginally in the previous fiscal year ending March 31, 2014 amid weak overseas shipments of gold ornaments, medallions and coins, the PTI reported.
Overseas shipments of gems and jewellery by India fell marginally by 1.21 per cent to Rs 2.10 lakh crore in FY 2013-14, the Gems and Jewellery Export Promotion Council said on Tuesday, the PTI reported.
In FY 2012-13, the country’s gems and jewellery exports stood at Rs 2.12 lakh crore, the report said.
“We could not export much of gold jewellery in 2013-14 because of the government curbs on gold imports," Gems and Jewellery Export Promotion Council Chairman Vipul Shah said, the PTI reported.
India’s gems and jewellery exports fell last fiscal as the government had stepped up measures to reduce gold imports in a bid to stem the country’s ballooning current account deficit. A decline in gold imports weighed heavily, creating a shortage of the precious metal in the domestic market, crimping gems and jewellery exports.
India had raised the import duty on gold to 10 per cent to curb imports of the yellow metal.
India’s gems & jewellery exports fell marginally in the previous fiscal year ending March 31, 2014 amid weak overseas shipments of gold ornaments, medallions and coins, the PTI reported.
Overseas shipments of gems and jewellery by India fell marginally by 1.21 per cent to Rs 2.10 lakh crore in FY 2013-14, the Gems and Jewellery Export Promotion Council said on Tuesday, the PTI reported.
In FY 2012-13, the country’s gems and jewellery exports stood at Rs 2.12 lakh crore, the report said.
“We could not export much of gold jewellery in 2013-14 because of the government curbs on gold imports," Gems and Jewellery Export Promotion Council Chairman Vipul Shah said, the PTI reported.
India’s gems and jewellery exports fell last fiscal as the government had stepped up measures to reduce gold imports in a bid to stem the country’s ballooning current account deficit. A decline in gold imports weighed heavily, creating a shortage of the precious metal in the domestic market, crimping gems and jewellery exports.
India had raised the import duty on gold to 10 per cent to curb imports of the yellow metal.
