Silver jewellery exports fall 88% in FY19, industry seeks policy support

Export of silver jewellery has fallen as much as 88 per cent so far this financial year, shows data compiled by the apex industry body, the Gems and Jewellery Export Promotion Council (GJEPC). The cumulative export figure for April-August, first five months of 2018-19, was $239 million (Rs 16.3 billion), compared to $2,008.2 mn (Rs 129.4 bn) in the corresponding period last year. However, during this period, overall gems and jewellery export rose, by 7.3 per cent in rupee terms to Rs 1,131 bn and nearly 1.9 per cent in dollar terms to $16.7 bn.Indian export of silver jewellery and artifacts was a record high of a little above $4 bn in 2016-17, taking major market share from Thailand. That has since reversed -- silver jewellery exporters from Thailand have made their articles more attractive with contemporary and modern designs. While Indian exporters continued to offer the same style of ornaments, failing to move in line with consumer demand.Pramod Agrawal, chairman of GJEPC, said ...

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