Jewellery exports from India are likely to revive going ahead, Trade Secretary S.R. Rao said on Wednesday, adding government curbs on imports of non-essential items have been effective.
India, the biggest buyer of bullion, has been trying to boost exports of jewellery and limit imports of gold -- its biggest non-essential import -- after the trade deficit surged to a record in the last fiscal year.
India shipped out $2.68 billion worth of gold jewellery in value terms from April to August, down 59.4 per cent on the year ago period, the Gems and Jewellery Export Promotion Council (GJEPC), a trade body, said on September 24.
The trade ministry is expected to announce financial incentives for jewellery exporters by end-October, Rao said on September 27.
Copyright: Thomson Reuters 2013
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