×
148
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Application Security Architecture Consultant, India - Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
TLM CONSULTANCY
Merchandising Assistant
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
NIYOSSHIC LUXURY CONSULTANCY
PR Assistant
Internship · MUMBAI
NIKE
Senior Dev Ops Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
OUTHOUSE JEWELLERY
Communication Designer
Permanent · MUMBAI
OUTHOUSE JEWELLERY
Store Manager
Permanent · NEW DELHI
NIKE
Senior Sap Application Engineer- Sec Tech, Icc - India
Permanent · Bengaluru
MAC
Make up Artist - Mac - Nykaa Pacific Rajori
Permanent · Delhi
Published
Apr 6, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

India's March gold imports skyrocket, exports decline due to shortage

Published
Apr 6, 2021

In March, India’s gold imports increased by 584.21% on a year-on-year basis to total $7.17 billion (Rs 47,700.2 crore) due to increased demand but plain gold jewellery exports declined due to a shortage of duty-free gold. 

The GJEPC has asked the government to address concerns of gold jewellery exporters facing a shortage of duty-free gold

 
March 2021 saw gold imports for use in the domestic jewellery market skyrocket in March, the Ministry of Commerce and Industry announced in a release, shared by the Gem and Jewellery Export Promotion Council on its website. The Ministry attributed the large increase in gold imports to the approach of the gold-buying festival Akshaya Tritiya; the reduction of gold prices by almost 13% since January this year; and increased wedding jewellery demand among other factors.
 
However, jewellery businesses manufacturing designs for export are facing a shortage of duty-free gold which has negatively impacted plain gold jewellery export figures. Imports of duty-free gold for export purpose decreased by 81.23% in March. The GJEPC stated that there is not sufficient gold available for the jewellery export sector.

“We request the Government to look into the issues to ensure the hassle-free supply of duty-free gold to exporters by nominated agencies to stem the sharp decline in exports of gold jewellery from India,” said GJEPC chairman Colin Shah, the GJEPC reported on its website.

Copyright © 2021 FashionNetwork.com All rights reserved.