India’s silver jewellery exports quadrupled since 2010-11 due to rapid shift in consumer preferences in favor of light weight, modern and contemporary designs of gemstones studded ornaments.
India’s silver jewellery shipment stood at $2959 million in the financial year (FY) 2015-16 compared to $566 million in FY 2010-11. From the previous financial year i.e. 2014-15, however, exports of silver ornaments recorded a jump of 44%, according to the data compiled by Gems and Jewellery Export Promotion Council (GJEPC).
Meanwhile, India’s silver import too jumped four-fold in the last three years from 1900 tons in 2011-12 to 7954 tons in FY 2014-15.