India’s Silver Jewelry Exports See Big Increase

Mineweb reported that from April 2013 to March 2014, India’s exports of silver jewelry came to a total of $1,459.87 million. That’s 58.57 percent higher than the $920.62 million recorded in the year-ago period.

As quoted in the market news:

According to data from the Gems and Jewellery Export Promotion Council, silver jewellery exports brought in $1,460 million. An optimistic Vice Chairman of the Council, Pankaj Parekh said, ‘There are several factors that show good prospects for jewellery, especially silver jewellery, in 2014-15. The government’s 80-20 scheme might get diluted, import duty is expected to be rationalised as India’s apex bank has already allowed four more banks to import gold, and there is a huge demand in the international market for our jewellery.”

He added that the trade organization expects a boom in silver jewellery exports, with 10% more exports expected to come in this year as compared to 2013-14.

Click here to read the full Mineweb report.