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India’s Silver bar imports surged 36% in Sep ’14

The latest statistics released by the Gems and Jewellery Export Promotion Council (GJEPC) suggests notable rise in Silver bar imports by the country during the month of September this year. The country’s Silver bar imports during the month surged by 36.01% upon comparison with the imports during the same month last year. This is in accordance with the latest trade data published yesterday.

The GJEPC data indicates that the total Silver bar imports by the country in September this year amounted to INR 18.28 crores (USD 3.00 Million). In rupee terms, the Silver bar imports have gone higher by 36.01%. The increase in dollar terms stood at 42.18%. It must be noted that the country’s Silver bar imports during September last year had totaled INR 13.44 crores (USD 2.11 Million).

Also, silver bar imports by the country in September ’14 climbed higher when compared with the previous month. The imports surged by nearly 23% over the previous month. The country’s Silver bar imports had totaled INR 14.86 crores (USD 2.44 Million) during August this year.

According to GJEPC, the cumulative Silver bar imports by the country during the initial six month period of the current fiscal has declined by 40.36% over the year. The country’s Silver bar imports during the six-month period from April to September 2014 totaled INR 86.21 crores (USD 14.32 Million). During the corresponding six-month period during previous fiscal, the country had imported Silver bars worth INR 144.54 crores (USD 24.52 Million).

Source:Scrap Monster

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