Gold jewellery exports fall 30% in Dec

Exports of gold jewellery from India in December dropped 30.4 per cent from a year ago to $443.19 million, an industry body said on Friday.

 

Gold jewellery exports from April to December fell 51.5 per cent 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 per cent of all the gold shipped in must be turned around and exported as jewellery.

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