Mumbai: India’s exports of gold jewellery, both studded and plain, during the month of July 2017 dropped by nearly 32% to $ 411.37 mn from $ 602.04 mn during July 2016. Overall exports from the gem and jewellery sector during July 2017 stood at $ 2.42 bn, a drop of 23.61% over the $ 3.17 bn exported in the same month in 2016, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) of India.

Exports of gold medallions and coins in July 2017 declined to $ 58.7 mn as against $ 435.9 mn a year earlier. Exports of silver jewellery dropped to $ 185.93 mn in July 2017 as compared to $ 336.41 mn in July 2017.However, coloured gemstone exports were up in July 2017 to $ 12.1 mn as compared to $ 10.38 mn exported in July last year.

Overall gross exports from the gem and jewellery sector in India during the first four months of fiscal 2018 stood at US$ 13.66 billion, a marginal decline of 0.23% as compared to the US$ 13.69 billion exported in the same period last year.

Exports of synthetic stones during April-July 2017 were $ 69.16 mn, with synthetic diamonds accounting for $ 46.61 mn, as compared to $ 34.98 mn during the comparative period last year.

Exports of gold jewellery, both studded and plain, declined 30.3% to $ 2.12 bn during the first four months of the current fiscal, as compared to exports of $ 3.04 bn in the same period last year.

Exports of gold medallions & coins were 4.7% higher at $ 1.58 bn during April-July 2017, while silver jewellery exports rose significantly to $ 1.9 bn, and coloured gemstones exports rose 8.34% to $ 77.3 during the period.