“We should observe the overall market trends in a holistic manner in the forthcoming months to arrive at a rightful conclusion. Factors such as low base effect, reduction in the gold price, reduction in import duty may be attributed to the increased imports in the country in this period. An important observation is, that from an average import of about 80 tonnes a year in 2018-19, it was down to 50 tonnes last year,” GJEPC Chairman Colin Shah said. “Growth in imports of gold indicates the positive sentiment in the domestic and international market, Shah said, adding that GJEP expects growth in jewellery exports in the current fiscal.