News

Nov 17, 2016

India’s Polished Diamond Exports Up 37% in October, Gold Jewellery Exports Up 16%

Exports of cut and polished diamonds rose to US$ 2.60 bn in October 2016 a rise of 37% as compared to the same month a year earlier, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of gold jewellery (both studded and plain) were up 16% to US$ 796 million during the same period.

Overall exports from the gem and jewellery sector during October 2016 stood at US$ 4.17 billion, a growth of 23% over the US$ 3.39 billion exported in the same month the previous year.

Rough imports during the month at US$ 1.25 billion were up 16.97% in value terms from US$ 1.07 billion the previous October. In volume terms, 11.29 mn carats of rough were imported during the month, a growth of 3.67% compared with the imports of 10.89 mn carats during October ‘15.

Imports of cut and polished diamonds were down 30.6% to US$ 195.76 million in October 2016 from US$ 282.21 million a year earlier.

Exports of gold jewellery (both studded and plain) rose 15.9% to US$ 796 million during October 2016, as compared to exports of US$ 687.31 million in the same month last year. Exports of gold medallions and coins during the month were up 4.7% to US$ 513.62 million as against US$ 490.67 million a year earlier.

Exports of silver jewellery were down to US$ 190.58 million in October 2016 as compared to US$ 273.66 million last year.

Coloured gemstone exports were up in October 2016 to US$ 24.60 million as compared to US$ 21.12 million exported a year earlier.

Overall exports from the gem and jewellery sector in India during the first seven months of fiscal 2017 stood at US$ 25.92 billion, a rise of 14.68 % as compared to the US$ 22.61 billion exported in the same period last year.

Exports of cut and polished diamonds for the April-October 2016 period were up 14.62% to US$ 14.22 billion as compared to US$ 12.41 billion a year earlier.

During the fiscal year to date, import of rough diamonds rose to US$ 10.10 bn, an increase of 25.83%. In volume terms, imports rose by 13.44% from 74.07 mn cts in April-October 2015 to 84.03 mn cts in April-October 2016. 

Exports of gold jewellery (both studded and plain) rose 19.89% to US$ 5.24 billion during April-October 2016, as compared to exports of US$ 4.37 billion in the same period last year.

Exports of gold medallions & coins declined 2.99% to US$ 3.11 billion in the seven month period. Silver jewellery exports rose 27.31% to US$ 2.10 billion and Coloured Gemstones exports dropped 7.68% to US$ 240.41 mn in April-October 2016.