Gold jewellery exports fall 30 percent in December

MUMBAI Fri Jan 17, 2014 12:11pm IST

Customers shop inside a gold jewellery showroom in Mumbai August 30, 2013. REUTERS/Danish Siddiqui/Files

Customers shop inside a gold jewellery showroom in Mumbai August 30, 2013.

Credit: Reuters/Danish Siddiqui/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Exports of gold jewellery from India in December dropped 30.4 percent from a year ago to $443.19 million, an industry body said on Friday.

Gold jewellery exports from April to December fell 51.5 percent to $4.92 billion, the Gems and Jewellery Export Promotion Council (GJEPC) said in a statement.

India, which is fighting hard to reduce its current account deficit, has brought in measures to restrict imports of gold -- its second-biggest import item after oil -- which has affected the jewellery sector.

The measures included a rule that said 20 percent of all the gold shipped in must be turned around and exported as jewellery.

(Reporting by Siddesh Mayenkar; editing by Malini Menon)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Addressing India's Infra Needs

REUTERS SHOWCASE

FCI Revamp

FCI Revamp

Govt begins revamp of Food Corporation of India to cut waste, tame prices  Full Article 

Banking Fraud

Banking Fraud

Govt probing alleged fraud in two state-run bank branches   Full Article 

New Metro Rail

New Metro Rail

Cabinet approves $1.4 bln new metro rail project   Full Article 

Gold Stagnation

Gold Stagnation

Fading volatility promises long period of gold stagnation  Full Article 

Rupee Gains

Rupee Gains

Rupee hits 3-week high on debt-related dollar inflows  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage