India’s overall exports from the gem and jewellery sector during the six month period ended September 30, 2017 (H1 FY18) declined by 4.75% year-on-year to US$ 21.06 billion (H1 FY17: US$ 22.11 bn), according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

Polished diamond exports, which constitute a major part of the export basket, rose by a marginal 1.67% during this period to US$ 11.90 bn (H1 FY17: US$ 11.70 bn), while exports of gold jewellery (both plain and studded) dipped by a much larger 15.48% to US$ 4.04 bn (H1 FY17: US$ 4.79 bn).

During the fiscal year to date, import of rough diamonds rose to US$ 9.16 bn, an increase of 8.33% as compared to US$ 8.87 bn a year earlier. In volume terms, imports rose by 32.82% from 73.07 mn cts in April-Sept ’16 to 97.05 mn cts in the same period this year.

Exports of synthetic stones during April-September 2017 were US$ 101.95 mn, with synthetic diamonds (HS 71049010) accounting for around US$ 67.31 mn (as compared to US$ 53.82 mn during the comparative period a year earlier). These were from Surat SEZ.

Exports of gold medallions & coins declined by 36.81% to US$ 1.66 billion in the six month period, while silver jewellery exports rose by 24.37% to US$ 2.39 billion, and Coloured Gemstones exports displayed virtually flat growth at US$ 212.60 million in April-September ’17.

Overall exports from the gem and jewellery sector during the month of September 2017 stood at US$ 4.51 billion, a drop of 2.26% over the US$ 4.62 billion exported in the same month the previous year.

Exports of cut and polished diamonds from India during September were US$ 2.65 bn, a growth of 5.92% as compared to the US$ 2.50 bn in the same month a year earlier. Rough imports during the month at US$ 1.47 bn were down by 18.39% in value terms compared to US$ 1.80 bn imported during the previous September. In volume terms, 15.72 mn carats of rough were imported during the month, up 8.9% over the imports of 14.43 mn carats during September ‘16.

Imports of cut and polished diamonds dropped by 6.38% to US$ 174.03 million in September 2017 from US$ 185.89 million a year earlier.

Exports of gold jewellery (both studded and plain), during the month rose by 23.86% to US$ 1.2 billion from US$ 968.6 mn a year earlier.

Exports of gold medallions and coins during the month dropped sharply to US$ 58.42 million as against US$ 671.2 million a year earlier. Exports of silver jewellery rose to US$ 372.08 million in September 2017 as compared to US$ 237.39 million in the same month last year.

Coloured gemstone exports remained flat in September 2017 at US$ 58.51 million as compared to US$ 58.01 million exported during the same month a year earlier.