Mumbai: Exports of cut and polished diamonds from India remained virtually flat in June 2016, dropping by a marginal 0.38%, year-on-year. The country exported US$ 1.846 billion worth of goods as compared to the US$ 1.853 bn in the same month a year ago, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC).

Gold jewellery exports (studded and plain) for June 2016 rose by 27.24% to US$ 769.09 mn as against US$ 604.43 mn a year earlier. Overall exports from the gem and jewellery sector during June 2016 stood at US$ 3.51 billion, a growth of 4.03% over the US$ 3.37 billion exported in the same month the previous year.

Rough imports during the month at US$ 1.20 billion were down 20.21% in value terms from US$ 1.51 billion the previous June. In volume terms, 10.83 mn carats of rough were imported during the month, a fall of 15.9% compared with the imports of 12.89 mn carats during June ‘15. Imports of cut and polished diamonds rose to US$ 252.31 million in June 2016 from US$ 239.93 million a year earlier. Exports of silver jewellery rose to US$ 292.00 million in June 2016 as compared to US$ 274.78 million last year.

Coloured gemstone exports in June 2016 at US$ 45.30 million were down compared to US$ 56.46 million exported a year earlier. Overall exports from the gem and jewellery sector in India during the first quarter of fiscal 2017 stood at US$ 10.59 billion, a rise of 11.53% as compared to the US$ 9.50 billion exported in the same period last year. During the fiscal year to date, exports of cut and polished diamonds were up by 6.61% to US$ 5.60 bn, while import of rough rose to US$ 4.60 bn, an increase of 9.63%.

Gold jewellery (studded and plain) exports rose by 21.28% to US$ 2.44 billion in the first three months of FY 2017, while that of medallions & coins declined to US$ 1.06 billion in the same period. Silver jewellery exports rose to US$ 969.17 million and Coloured Gemstones exports dropped to US$ 100.58 mn in April – June ‘16.