News

Aug 18, 2017

India’s Polished Diamond Exports Remain Flat in July

Exports of cut and polished diamonds from India were US$ 1.645 billion in July 2017, marginally below the US$ 1.651 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 dropped by nearly 32% to US$ 411.37 million from US$ 602.04 mn a year earlier.

Overall exports from the gem and jewellery sector during July 2017 stood at US$ 2.42 billion, a drop of 23.61% over the US$ 3.17 billion exported in the same month the previous year.

Rough imports during the month at US$ 1.33 billion were down by 6.1% in value terms compared to US$ 1.41 billion imported during the previous July. In volume terms, 13.7 mn carats of rough were imported during the month, up 16% over the imports of 11.8 mn carats during July ‘16.

Imports of cut and polished diamonds were down 8.4% to US$ 227.9 million in July 2017 from US$ 248.88 million a year earlier.

Exports of gold medallions and coins during the month declined to US$ 58.7 million as against US$ 435.9 million a year earlier. Exports of silver jewellery dropped to US$ 185.93 million in July 2017 as compared to US$ 336.41 million last year.

Coloured gemstone exports were up in July 2017 to US$ 12.1 million as compared to US$ 10.38 million exported a year earlier.

Overall gross exports from the gem and jewellery sector in India during the first four months of fiscal 2018 stood at US$ 13.66 billion, a marginal decline of 0.23% as compared to the US$ 13.69 billion exported in the same period last year.

Exports of cut and polished diamonds in April-July 2017 were up 2.40% to US$ 7.42 billion as compared to US$ 7.25 billion a year earlier.

During the fiscal year to date, import of rough diamonds rose to US$ 6.72 bn, an increase of 11.64% as compared to US$ 6.02 bn a year earlier. In volume terms, imports rose by 44.19% from 50.10 mn cts in April-July ’16 to 72.24 mn cts in the same period this year.

Exports of synthetic stones during April-July 2017 were US$ 69.16 mn, with synthetic diamonds accounting for US$ 46.61 mn (as compared to US$ 34.98 mn during the comparative period a year earlier). These were from Surat SEZ.

Exports of gold jewellery (both studded and plain) declined 30.3% to US$ 2.12 billion during the first four months of the current fiscal, as compared to exports of US$ 3.04 billion in the same period last year.

Exports of gold medallions & coins were 4.7% higher at US$ 1.58 billion in the four month period, while silver jewellery exports rose significantly to US$ 1.9 billion largely on substantial increase from the Hyderabad and Surat SEZs, and Coloured Gemstones exports rose 8.34% to US$ 77.3 million in April-July ’17,