February Brings Big Rise in Indian Silver Jewelry Exports

Mineweb reported yesterday that according to the Gems and Jewellery Export Promotion Council, in February 2014, India’s silver jewelry exports rose to $84.1 million, a 45.33-percent increase.

Driving that rise was a shortage of gold as a raw material, and hence lower gold jewelry exports.

As quoted in the market news:

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.

Click here to read the full Mineweb report.