India’s gold jewellery exports fall 6.9% in October

Tuesday, 26 November 2013 00:01 - - {{hitsCtrl.values.hits}}

Reuters: Exports of gold jewellery from India fell 6.9% on month in October to $608.95 million, an industry body said on Monday. 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% of all the gold shipped in must be turned around and exported as jewellery. Gold jewellery exports from April to October fell nearly 55% to $3.95 billion, the Gems and Jewellery Export Promotion Council (GJEPC) said in a statement.