Gold jewellery import sinks in December’14

In December 2014, the gold bar import saw a fall of 47 per cent at Rs 1,282 crore as compared to Rs 2,425 crore during the same month in the previous year. Likewise, the gold jewellery import witnessed decline of 67 per cent at Rs 161 crore in December 2014 as against Rs 453 crore during same month in the previous year, as per the Gems and Jewellery Export Promotion Council (GJEPC) figures.

During the initial nine months of the current fiscal from April 2014 to December 2014, the cumulative gold bar import increased by 12.97 per cent as compared to the corresponding nine month period of the previous fiscal year. The country's gold bar import during April to December 2014 totaled Rs 25,875.32 crore while it was Rs 22,904.86 crore in the same period in the previous year, adds a report.

As per the GJEPC figures, the gold bar imports increased 49 per cent in November 2014 at Rs 3,637 crore compared to Rs 2,448 crore during the same month in the previous year. Similarly, the gold bar imports increased 18 per cent at Rs 3,523 crore in October 2014 compared to Rs 2,911 crore in the same period in the previous year.