News

Jul 19, 2017

India’s Polished Diamond Exports Up 7.5% in June

Exports of cut and polished diamonds from India were US$ 1.98 billion in June 2017, a rise of 7.47% as compared to the US$ 1.84 bn in the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of gold jewellery (both studded and plain), during the month declined by nearly 40% to US$ 436.70 million from US$ 716.90 mn a year earlier.

Overall exports from the gem and jewellery sector during June 2017 stood at US$ 3.30 billion, a drop of 2.86% over the US$ 3.39 billion exported in the same month the previous year.

Rough imports during the month at US$ 1.78 billion shot up by nearly 50% in value terms compared to US$ 1.20 billion imported during the previous June. In volume terms, 23.5 mn carats of rough were imported during the month, more than double the imports of 10.83 mn carats during June ‘16.

Imports of cut and polished diamonds were down 9.25% to US$ 228.46 million in June 2017 from US$ 251.76 million a year earlier.

Exports of gold medallions and coins during the month rose to US$ 508.71 million as against US$ 396.98 million a year earlier. Exports of silver jewellery dropped to US$ 200.53 million in June 2017 as compared to US$ 281.98 million last year.

Coloured gemstone exports were up in June 2017 to US$ 9.38 million as compared to US$ 5.96 million exported a year earlier.

Overall exports from the gem and jewellery sector in India during the first three months of fiscal 2018 stood at US$ 11.19 billion, a rise of 6.79% as compared to the US$ 10.48 billion exported in the same period last year.

Exports of cut and polished diamonds in April-June 2017 were up 3.19% to US$ 5.78 billion as compared to US$ 5.60 billion a year earlier.

During the fiscal year to date, import of rough diamonds rose to US$ 5.39 bn, an increase of 17.08% as compared to US$ 4.61 bn a year earlier. In volume terms, imports rose by 52.71% from 38.34 mn cts in April-June ’16 to 58.55 mn cts in the same period this year.

Exports of gold jewellery (both studded and plain) declined 30.9% to US$ 1.65 billion during the first three months of the current fiscal, as compared to exports of US$ 2.39 billion in the same period last year.

Exports of gold medallions & coins were US$ 1.52 billion in the three month period, up over 40%, while silver jewellery exports rose significantly to US$ 1.72 billion, and Coloured Gemstones exports rose 6.94% to US$ 65.20 mn in April-June ‘17.