The export of gold jewelry from India in August 2013 increased compared to the previous month, due to the improvement in demand from the US and despite the tightening of the conditions for the supply of precious metal after a series of measures taken by the Reserve Bank of India (RBI) to counter the growth in the trade balance deficit.
It is expected that in the coming months Indian gold jewelry exports will grow, as RBI has tied the Indian metal imports to deliveries abroad and has given some explanations about ambiguous rules wording, which will potentially ease the position of exporters.
According to the Gems and Jewelery Export Promotion Council of India, GJEPC, in August India exported gold jewelry worth $ 561 million, while in July exports were $ 441.4 million.