India’s Polished Diamond Exports Up 11% in H1 2017, Gold Jewellery Exports Up 21%


Exports of cut and polished diamonds from India showed an upward trend during the first six months (April-September 2016) of Indian fiscal 2017, rising by 10.71% to US$ 11.20 bn, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). Exports of gold jewellery (both studded and plain) were up 20.63% to US$ 4.44 billion during the same period.

Overall exports from the gem and jewellery sector in India during the first six months of fiscal 2017 stood at US$ 21.76 billion, a rise of 13.21 % as compared to the US$ 19.22 billion exported in the same period last year.

During the fiscal year to date, import of rough diamonds rose to US$ 8.85 bn, an increase of 27.20%. In volume terms, imports rose by 15.13% from 63.18 mn cts in April-September 2015 to 72.74 mn cts in April-September 2016.

Exports of gold medallions & coins declined 4.38% to US$ 2.59 billion in the same period. Silver jewellery exports rose 38.81% to US$ 1.91 billion and Coloured Gemstones exports dropped 9.82% to US$ 215.81 mn in April-September 2016.

For the month of September 2016, exports of cut and polished diamonds rose by 30.31%, year-on-year. The country exported US$ 2.50 billion worth of goods as compared to the US$ 1.92 bn in the same month a year ago, Gold jewellery exports (studded and plain) for September 2016 rose by 48.17% to US$ 909.64 mn as against US$ 613.92 mn a year earlier.

Overall exports from the gem and jewellery sector during September 2016 stood at US$ 4.54 billion, a growth of 30.95% over the US$ 3.47 billion exported in the same month the previous year.

Rough imports during the month at US$ 1.80 billion were up 71.25% in value terms from US$ 1.05 billion the previous September. In volume terms, 14.43 mn carats of rough were imported during the month, a growth of 16.9% compared with the imports of 12.34 mn carats during September ‘15.

Imports of cut and polished diamonds were down 21.41% to US$ 184.55 million in September 2016 from US$ 234.83 million a year earlier.

Exports of silver jewellery were down to US$ 233.29 million in September 2016 as compared to US$ 277.72 million last year.

Coloured gemstone exports slipped in September 2016 to US$ 57.89 million as compared to US$ 68.59 million exported a year earlier.

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