In April, India increased the gold import by 57% - GJEPC

20 May 2016

For the first month of 2016-2017 fiscal year (April), India increased its imports of bank gold for the jewelry industry by 57% in monetary term - to 401.43 million dollars, reports the Indian Gem & JewelryExportPromotionCouncil (GJEPC). Imports of gold jewelry fell by 20% to 21.08 million dollars, silver bullion - by 20% to 4.18 million dollars. Imports of raw diamonds have increased by 37% to 1.88 billion US dollars, faceted diamonds - decreased by 8.6% to 223 million dollars. At the same same time, exports of gold jewelery have increased by 50.3% to 735.3 million dollars, export of silver jewelry - more than in double to $ 300 million against 118 million dollars. Exports of gold coins and medallions decreased in April by 12.6% to 302.67 million dollars. Exports of polished diamonds in the reporting period amounted to 1.78 billion dollars that is higher than in the same period of the previous fiscal year by 8.85%, raw diamonds decreased by 23% to $ 86 million. On the results of fiscal year 2015-2016, India has reduced imports of bank gold for the jewelry industry by 23.9% to 4.068 billion dollars.