India’s gems and jewellery imports drop 9% in 2013-14

NEW DELHI: India’s imports of gems and jewellery fell by 9 per cent to Rs 1,85,883 crore in 2013-14 on a sharp decline in shipments of gold bars and jewellery due to government curbs, the industry body said.
The country had imported gems and jewellery worth Rs 2,04,253 crore in the previous financial year, according to data released by the Gems and Jewellery Export Promotion Council (GJEPC).
There was a significant drop in import of gold bars and jewellery because of the restrictions although inward shipments of rough and polished diamonds remained firm.
As per the GJEPC data, import of gold bars fell 47 per cent to Rs 32,540 crore in 2013-14 from Rs 61,431 crore a year ago.