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Gems and jewellery exports dip 8.12% during April-August

India's main export destinations are Europe, Japan, China and the US

Press Trust of India  |  New Delhi 

Jewellery
Import of rough diamonds rose by 8.84 per cent to $7.7 bn in April-August

and export contracted 8.12 per cent to $13.5 billion during April- August this year, data from the and Export Promotion Council (GJEPC) showed.

This compares with $14.7 billion in the same period last year.


The labour-intensive sector contributes about 14 per cent to the country's overall export. The drop in shipments is mainly due to negative growth in export of gold jewellery, gold medallions and coins and rough

shipments during the period declined about 8 per cent to $1.30 billion. Similarly, export of gold medallions and coins and rough contracted by 18 per cent and 5 per cent, respectively.

However, silver export went up to $2 billion in April-August 2017-18, from $1.67 billion a year ago.

Export of cut and polished reported a growth of just 0.51 per cent.

India's main export destinations are Europe, Japan, and the US.

According to GJEPC, the sector is facing issues related to compliance of the (GST). It had demanded exemption from Integrated (IGST) on the procurement of from nominated agencies for the purpose of and export of

According to the data, import of rough rose by 8.84 per cent to $7.7 billion in April-August.

Import of gold bars, however, slid 38.5 per cent to $1.26 billion.

First Published: Mon, October 02 2017. 14:24 IST
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