The Gems and Jewellery Export Promotion Council (GJEPC) in India released imports figures of raw materials for gems and jewellery for June 2014. According to the data, India’s gold jewellery imports in June doubled compared to a year ago.
Gold jewellery imports in June 2014 totalled Rs 206.06 crores (USD 34.50 Million). This, compared to the country’s gold jewellery imports in June last year saw a significant 101.2 percent increase.
Gold bar imports by India last month also saw a sharp rise of 28.4 percent compared to the previous year.
Total gold bar imports by the country in June 2014 amounted to Rs 2,268.09 crores (USD 379.72 million). In rupee terms, the gold bar imports have soared higher by 28.43 percent while the increase in dollar terms stood at 25.57 percent.
The June figures were however nearly 41 percent lower than the gold bar import number in May which were valued at Rs 3,840.43 crores. The May number was substantially higher on a year-on-year basis, increasing 83.26 percent compared to May 2013.