Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Gold jewellery exports rise again in April.


Date: 19-05-2014
Subject: Gold jewellery exports rise again in April
Mumbai: Gold jewellery exports from India rose for a third consecutive month in April as raw material supplies improved after the Reserve Bank of India (RBI) allowed more banks to import bullion.

Struggling with a ballooning trade deficit, the government last year imposed a record duty of 10% on overseas purchases of gold, the second-biggest expense in its import bill. That hit gold jewellery exports, with shipments in the fiscal year that ended in March dropping around 40%.

But jewellery exports in April continued to build on a firm trend, registering a 14.69% rise to $604.42 million, the Gems and Jewellery Export Promotion Council said in a statement.

“Supply condition has improved a little bit...if supplies improve more, exports will grow further,” said Rajiv Jain, past chairman of the council.

India imported 50 tonnes of gold in March, which acted as a buffer for the following months, Jain said, when the country witnessed lower imports due to restrictions imposed on cash due to elections. India imported 30 tonnes of gold in April.

Total gems and jewellery exports fell 6.8% to $2.5 billion.

The amount of gold jewellery shipped by India is directly related to its imports after the country enforced the so-called 80/20 rule in July, making it mandatory to export a fifth of all gold imports.

Meanwhile, RBI has indicated that it aims for a slow and steady removal of restrictions as the current account deficit comes under control.

Silver jewellery exports unexpectedly fell 36.85% to $111.12 million in April, after displaying a strong trend last year.

Source : livemint.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 28-02-2025
Notification No. 12/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 14-02-2025
Notification No. 10/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg.

Date: 13-02-2025
Notification No. 14/2025-Customs
Seeks to amend Notification 11/2021-Customs dated 01.02.2021 to amend AIDC rate on Bourbon whiskey

Date: 11-02-2025
NOTIFICATION No. 09/2025–Central Tax
Seeks to bring rules 2, 8, 24, 27, 32, 37, 38 of the CGST (Amendment) Rules, 2024 in to force

Date: 03-02-2025
[F. No. CBIC-190354/236/2021-TRU]
Corrigendum to Notification No. 50 of 2024 Customs, dated the 30th December, 2024.

Date: 01-02-2025
Notification No. 13/2025-Customs
Seeks to further amend notification No. 153/94-Customs dated the 13 th July, 1994.

Date: 01-02-2025
Notification No. 12/2025-Customs
Seeks to further amend notification No. 19/2019 dated 06 th July 2019.

Date: 01-02-2025
Notification No. 11/2025 – Customs
Seeks to further amend notification No. 25/2002-Customs, dated the 1st March, 2002 so as to add capital goods to the already existing list of capital goods exempted from basic customs duty for manufacture of lithium-ion battery of mobile phones and electrically operated vehicles.

Date: 01-02-2025
Notification No. 09/2025-Customs
Seeks to further amend notification No. 16/2017-Customs, dated the 20 th April, 2017 so to exempt certain drugs for supply under Patient Assistance Programme run by specified pharmaceutical companies.

Date: 01-02-2025
Notification No. 07/2025-Customs
Seeks to further amend notification No. 11/2018-Customs dated 02 th February, 2018 so as to exempt specified goods from the whole of levy of Social Welfare Surcharge.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001