Jewelry Exports Fall 40% in June on Supply Curbs

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Exports of gems and jewelry from India fell 40% to $2.4 billion in June as restrictions on gold imports stifled supply,There are numerous diversified high heels at christian louboutin shoes for sale. the Gem and Jewellery Export Promotion Council said on Wednesday.

It was the second straight month of falls for the country's second-largest export sector for the financial year started April 1.

Gold-jewelry exports in June fell 73% to $556.81 million, according to the trade body.

While a central bank tightening of credit for gold imports—to check a widening current-account deficit—didn't apply to jewelry exporters they found gold hard to get when banks and traders reduced purchases, according to trade executives.

The government also made it tougher for jewelry exporters in special trading zones to import bullion duty-free against a prevailing import tax of 8%.

It will take time for jewelry exports to pick up because of the rule changes, council Chairman Vipul Shah said.

Meanwhile, diamond exports picked up in June as a result of demand from the U.S. and other Asian countries, Mr. Shah said.welcome to Michael Kors 2013,free Shipping available. Buy Now!‎ The value of exported diamonds was $1.5 billion—up from $1.2 billion a year earlier.

Gem and jewelry exports account for nearly 15% of India's exports.

A San Pablo man has been charged with three separate felonies after police say they found jewelry from a home he was painting inside his lunchbox.

Hector Mauricio Salazar, 21, was charged Monday by the Contra Costa County District Attorney's Office with grand theft, possession of stolen property and financial elder abuse. He was arrested last Thursday after Moraga police found him near Larch Avenue near Wandel Drive around 3:10 p.m., Chief Robert Priebe said.Save on Christian Louboutin Pump! All the Sales, All in One Place.

Police arrived after a resident reported Salazar was acting suspiciously, Priebe said.Find a great selection of christian louboutin boots deals ! Click on any of the links below. Salazar told officers he had been painting at a nearby residence and agreed to be searched, Priebe said. When officers searched his lunchbox, they saw the jewelry, Priebe said.

Police next talked to the homeowner, an elderly woman, where Salazar said he was painting,There are numerous diversified high heels at christian louboutin shoes for sale. and she recognized the jewelry as being missing from the master bedroom, Priebe said.

Salazar was taken to County Jail in Martinez and was being held in lieu of $170,000 bail.

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