India may see revival in jewellery exports - trade secy

Reuters

NEW DELHI (Reuters) - 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 percent 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.

(Reporting by Manoj Kumar & Anurag Kotoky; writing by Siddesh Mayenkar)

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