Mumbai: Exports of gold jewellery from India in December dropped 30.4% from a year ago to $443.19 million, an industry body said on Friday.

Gold jewellery exports from April to December fell 51.5% to $4.92 billion, the Gems and Jewellery Export Promotion Council (GJEPC) said in a statement.

India, which is fighting hard to reduce its current account deficit, has brought in measures to restrict imports of gold — its second-biggest import item after oil — which has affected the jewellery sector.

The measures included a rule that said 20% of all the gold shipped in must be turned around and exported as jewellery.

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