India’s Polished Diamond Exports Up 8% in December

ALROSA Increases Insurance Cover for the Group; Includes New Heads in the Policy

India’s overall exports from the gem and jewellery sector during the month of December registered a marginal year-on-year drop of 0.98% at US$ 2.96 billion, with polished diamond exports rising by 7.68% and jewellery exports up by 26.52% 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$ 1.59 billion from US$ 1.48 bn last year, a jump of 7.68% y-o-y. Rough imports shot up by 55.6% in value terms during the month to US$ 2.18 billion as compared to US$ 1.40 bn imported during the previous December, when the trade was still facing the effects of the Indian government’s demonetisation decision. In volume terms, 20.8 mn carats of rough were imported during the month, nearly double the imports of 10.9 mn carats during December ‘16.

Imports of cut and polished diamonds were up by 7.11% to US$ 220.13 million in December 2017 from US$ 205.52 million a year earlier.

Exports of gold jewellery (both studded and plain) during the month rose by 26.52% to US$ 981.76 million from US$ 775.97 mn a year earlier. Exports of silver jewellery dropped to US$ 222.02 million in December 2017 as compared to US$ 237.81 million in the same month last year.

Coloured gemstone exports dipped in December 2017 to US$ 20.31 million as compared to US$ 23.77 million exported during the same month a year earlier.

For the first nine months of the fiscal year 2017-18, overall gem and jewellery exports now stand at US$ 30.71 billion, a decline of 3.83% as compared to US$ 31.94 bn during the same period last year.

Polished diamond exports during April-Dec 2017 were up 1.85% to US$ 17.20 bn as against the US$ 16.88 bn exported over the same months last year, while exports of gold jewellery (both plain and studded) were almost flat at US$ 7.06 bn as against US$ 7.03 bn during the first nine months of the previous fiscal.

During the fiscal year to date, import of rough diamonds showed a growth of 10.87%, rising to US$ 14.09 bn from US$ 12.71 bn a year earlier. In volume terms, imports rose by 43.65% from 103.75 mn cts in April-Dec ’16 to 149.03 mn cts in the same period this year.

Exports of synthetic stones during April-December 2017 were US$ 155.51 mn, with synthetic diamonds (HS 71049010) accounting for around US$ 88.88 mn (as compared to US$ 72.46 mn during the comparative period a year earlier). These were from Surat SEZ.

Exports of gold medallions & coins declined by 54.67% to US$ 1.74 billion in the nine month period, while silver jewellery exports rose by 16.28% to US$ 3.12 billion, and Coloured Gemstones exports remained flat at US$ 285.92 million in April-December ’17.

News Source :

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.