Gold jewellery exports fall 30 percent in December
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)
- Tweet this
- Share this
- Digg this
India has withdrawn the drug pricing authority's powers that allowed it to fix the prices of medicines not deemed essential, after its decision to impose price caps on more than 100 drugs in July triggered industry protests. Article