India gold jewellery export up 14.69% in April
Updated: May 19, 2014 04:41:28pm
New Delhi, May 19 (KNN) India's gold jewellery exports have gone up by 14.69 per cent to USD 604.42 million in April, whereas the overall gems and jewellery exports have dropped 16 per cent to USD 2.48 billion in the first month of the current fiscal, according to the Gems and Jewellery Export Promotion Council data.
In April 2013, gold jewellery exports stood at USD 527 million.
Gold imports declined over 74 per cent to USD 1.75 billion in April due to restrictions imposed by the government on gold import to narrow CAD.
India’s CAD had reached up to 4.8 per cent of GDP in 2012-13, mainly due to high imports of gold and petroleum products.
The government had taken several measures to curb gold imports like increased customs duty on gold to 10 per cent from 4 per cent.
In March, the RBI had allowed more banks, including Axis Bank and Kotak Mahindra Bank, to import gold under the 80:20 scheme, a move to ease the restrictions on gold import. (KNN/SD)
In April 2013, gold jewellery exports stood at USD 527 million.
Gold imports declined over 74 per cent to USD 1.75 billion in April due to restrictions imposed by the government on gold import to narrow CAD.
India’s CAD had reached up to 4.8 per cent of GDP in 2012-13, mainly due to high imports of gold and petroleum products.
The government had taken several measures to curb gold imports like increased customs duty on gold to 10 per cent from 4 per cent.
In March, the RBI had allowed more banks, including Axis Bank and Kotak Mahindra Bank, to import gold under the 80:20 scheme, a move to ease the restrictions on gold import. (KNN/SD)
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