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:

Economic Pulse

REUTERS SHOWCASE

Vodafone Tax Dispute

Vodafone Tax Dispute

India advised against challenging Vodafone tax ruling - source  Full Article 

Banking Sector

Banking Sector

India's laggard state lenders face tough sell on capital raising plan  Full Article 

Trade Deal

Trade Deal

WTO postpones trade deal by a day after last-minute objection.  Full Article 

Falling Oil Prices

Falling Oil Prices

Saudis signal no push for oil cut as market to "stabilise itself"  Full Article 

Raising Stake

Raising Stake

Nippon Life to raise stake in Reliance Capital fund unit  Full Article 

Sterilisation Camps

Sterilisation Camps

Sterilisation targets remain in all but name, critics say  Full Article 

Share Buyback

Share Buyback

Samsung Electronics to buy back $2 billion in shares  Full Article 

Microsoft in China

Microsoft in China

Microsoft to pay China $140 million for 'tax evasion'   Full Article 

Flashback: 26/11

Flashback: 26/11

The three-day attack in November 2008 left 166 dead.  Slideshow 

Reuters India Mobile

Reuters India Mobile

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