Feb 19, 2018

India’s Polished Diamond Exports Up 29% in January

India’s overall exports from the gem and jewellery sector during the month of January 2018 registered a year-on-year increase of 4.08% at US$ 3.08 billion, with polished diamond exports rising by 28. 8% and jewellery exports up by 66.7% as compared to the same month a year earlier, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

Exports of cut and polished diamonds from India during the month rose to US$ 2.08 billion from US$ 1.62 bn in January 2017, a jump of 28.8% y-o-y. Rough imports were up by 13.68% in value terms during the month to US$ 1.44 billion as compared to US$ 1.27 bn imported during the previous January. In volume terms, rough imports declined from 15.3 mn carats during January 2017 to 13.3 mn carats during January this year.

Imports of cut and polished diamonds were down by 20.9% to US$ 136.23 million in January  2018 from US$ 172.28 million a year earlier.

Exports of gold jewellery (both studded and plain) during the month rose by 66.70% to US$ 655.05 million from US$ 392.95 mn a year earlier. Exports of silver jewellery dropped to US$ 146.73 million in January 2017 as compared to US$ 253.18 million in the same month last year.

Coloured gemstone exports rose in January 2017 to US$ 47.49 million as compared to US$ 41.28 million exported during the same month a year earlier.

For the first ten months of the fiscal year 2017-18, overall gem and jewellery exports now stand at US$ 33.90 billion, a decline of 3.18% as compared to US$ 35.02 bn during the same period last year.

Polished diamond exports during April 2017-Jan 2018 were up 4.21% to US$ 19.28 bn as against the US$ 18.50 bn exported over the same months last year, while exports of gold jewellery (both plain and studded) were up 2.98% at US$ 7.75 bn  as against US$ 7.52 bn during the first ten months of the previous fiscal.

During the fiscal year to date, import of rough diamonds showed a growth of 11.11%, rising to US$ 15.53 bn from US$ 13.98 bn a year earlier. In volume terms, imports rose by 36.36% from 119.04 mn cts in April 2016-Jan 2017 to 162.32 mn cts in the same period this year.

Exports of synthetic stones during April 2017-Jan 2018  were US$ 174.17 mn, with synthetic diamonds (HS 71049010) accounting for around US$ 101.54 mn (as compared to US$ 82.39 mn during the comparative period a year earlier). These were from Surat SEZ.

Exports of gold medallions & coins declined by 58.03% to US$ 1.82 billion in the ten month period, while silver jewellery exports rose by 11.23% to US$ 3.27 billion, and Coloured Gemstones exports were up by 2.61% at US$ 334.05 million in April 2017-Jan 2018.