The first month of the Indian financial year 2015-16 was a difficult one for the India centre with overall exports of gems and jewellery declining by 10.9%. Total exports of gems and jewellery during the month of April 2015 stood at US$ 2,436.65 million as compared to US$ 2736.11 million in April 2014.

Tough market conditions impacted the two most important segments of the industry – diamonds and jewellery.  Exports of cut and polished diamonds dipped by 11.03% to US$ 1,635.71  million in April 2015, as compared to US$ 1,838.54 million during April 2014. In volume terms, the decline was 5.73% with the centre exporting 2.52 mn carats in April this year as against 2.68 mn carats a year earlier.

Imports of cut and polished diamonds fell by 40% to US$ 244.13 million from US$ 412.12 million a year earlier.

Keeping pace with the drop in exports, imports of rough diamonds at US$ 1,370.82 million in April 2015 declined by 31.10% as compared to imports at US$ 1,989.57 million a year earlier. In volume terms, 11.16 mn carats of rough were imported during April 2015, decline of 16.43% compared with the imports of 13.36 mn carats during April 14.

Similarly, the export of gold jewellery (plain and studded) dropped by 18.16% from US$ 643.61 million last year to US$ 526.76 million in Aoril 2015. However, there was a marginal improvement in the SEZs with exports touching US$ 266.71 mn in April this year as against US$ 251.96 mn in April 2014.

Exports of silver jewellery rose by 7.78% in April 2015 to US$ 120.88 million as compared to US$ 112.15 million a year earlier.

The coloured gemstone segment saw marginal growth of 0.23% in April this year with total exports registering US$ 25.76 million compared to US$ 25.70 million last year.