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Thursday, 22nd July 2010 (1290 views)

Indian exports of gold jewellery registered a year-on-year increase in June, according to new figures.

Statistics from the Gem & Jewellery Export Promotion Council show that $610.4 million (£402.2 million) worth of gold jewellery was sold to overseas markets last month, representing a 39.6 per cent increase compared with last year.

June 2009 saw $437.2 million worth of gold jewellery exported abroad, the GJEPC said.

The figures also show that total Indian jewellery exports had a value of $3.08 billion in June, up 74.23 per cent compared with the same month last year.

Last week, Anjani Sinha, head of the Indian Bullion Market Association, told Reuters it is likely Indian gold imports will total import 500 to 550 tonnes by the end of the current financial year.

Indian consumers have recently taken to gold coins and bars as an investment vehicle as well as in jewellery form for religious festivals and weddings.

 

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