MUMBAI: Gold price may be running high, but the export of gold jewellery items from India is showing a rising trend. Provisional export of gold jewellery for December 2009 at US$ 508.62 million (rupees 2371.71 crores) shows growth of 4.38% (growth of 0.07 rupee term) over the comparative figure of US$ 487.27 million (rupess 2370.10 crores) December 2008.
According to figures from India's Gem and Jewellery Export Promotion Council, the overall exports of Gems & Jewellery at US$ 1892.32 million (rupees 8823.89 crores) in month of December 2009 is showing a growth of 45.35% (39.34% in rupees term) as compared to US$ 1301.93 million (rupees 6332.58 crores) of same period previous year.
The higher growth in export & import during December 2009 is in fact due to the reason that the trade voluntarily stopped the import of Rough Diamonds for one month (24th November 2008 to 23rd December 2008) resulting in the decline of import and thus the exports. Also the US recession and economic down turn seriously affected the overall Exports & Imports of gem & jewellery during December 2008.
The overall export of Cut & Polished diamonds at of US$ 1289.09 million (Rupees 6011 crores) in month of December 2009 is showing a growth of 65.68% (58.83% in rupees term) as compared to US$ 778.07 million (rupees 3784.56 crores) for the same period of previous year. As stated earlier the growth is due to less export in December 2008.
Export of Coloured Gemstones at US$ 15.18 million (in Rupees 70.80 crores) shows a growth of 310.27% (+293.68 in rupee term) during December 2009 as compared to US$ 3.70 million (rupees 17.99 crores) in December 2008.
Source : Commodity Online