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

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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)

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