Gold jewellery exports rise to Rs 35,000 crore in April-January

NEW DELHI : India's gold jewellery exports stood at Rs 35,006 crore in the first ten months of the last financial year as against Rs 33,350 crore in the entire 2013-14 fiscal, Parliament was informed today.

In volume terms, the exports rose to 1,36,765 kg during April 2014-January 2015 from 1,20,448 kg in FY 2013-14, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.

The major destinations for such exports include Australia, Germany, Canada, Hong Kong, Ireland, Italy, Japan and Greece.

In April-February 2015, India's gold imports worked out to 7,82,095 kg as against 6,61,713 kg in 2013-14.

India is the largest importer of the yellow metal. Taking a separate query on WTO, she said India is not a participant in the plurilateral agreement on services -- Trade in Services Agreement (TISA).

"India believes that the WTO is the best platform to carry forward services negotiations in a transparent and inclusive manner.

"We believe that such a plurilateral approach is not the solution for the impasse in the Doha Round; rather, it will surely endanger the conclusion of the Doha Round by disturbing the delicate balance arrived at between agriculture, non-agri market access and services after years of intense negotiations," she warned.

The Doha Round of negotiations, launched in 2001, has virtually stalled since July 2008 due to differences between the rich and the developing nations, mainly on the level of protection for farmers in developing countries once the global trade is liberalised.

Source : economictimes.indiatimes.com