Gold scarce, India's silver jewellery exports double | SILVER SHORTAGE

Wednesday, April 16, 2014

Gold scarce, India's silver jewellery exports double

Shortage of gold as a raw material and the consequent decline in gold jewellery exports has opened up new avenues of growth for silver jewellery.

MUMBAI (Mineweb) -
A shortage of gold as a raw material and the consequent decline in gold jewellery exports appears to have opened up new avenues of growth for silver jewellery in India.
India's silver jewellery exports rose 45.33% to $84.1 million in February 2014, and jumped 89% in the 11-month period to $1.35 billion, according to data from the Gems and Jewellery Export Promotion Council.

Council data also showed that silver jewellery exports rose 109% between April 2013 and February 2014, to $1.3 billion (Rs 81.4 billion) from $642 million (Rs 38.85 billion) in the same period of the previous financial year.
Pankaj Parekh, vice chairman of the Council said it was not just silver jewellery that shone in the overseas market, but rather exports of silver utensils, artifacts and other silver articles too continued with their upward trend to the US, parts of Europe and Japan.
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