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Tuesday, 19th May 2009 (1501 views)

India saw a 9.73 per cent year-on-year increase in total gold jewellery exports during April this year, new figures show.

According to data from the country's Gem and Jewellery Export Promotion Council, total gold jewellery exports were up over the year to 1.5 billion rupees from nearly 1.4 billion in April 2008.

Meanwhile, total Indian jewellery and gem imports declined last month, but imports of gold bars rose 24.38 per cent amid surging demand for physical gold.

The global economic downturn has driven up investment in the precious metal and the value of gold bars imported into India during April 2009 reached over 6.4 billion rupees (£87 million), up from around 5.1 billion rupees last year.

In related news, a poll of mining executives from around the world by Bedford Consulting Group found that 84 per cent believe that growth in the industry is likely to come from the gold sector.

 

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