India’s Polished Diamonds Export -15% in Nov

GJEPC_LogoVimalMumbai: The drop in exports of cut and polished diamonds from India continued during November 2015, with the country exporting US$ 1.32 billion worth of goods, down 15.2% from the US$ 1.56 bn worth of exports a year ago, according to data released by The Gem & Jewellery Export Promotion Council (GJEPC).

However, gold jewellery exports during the month were up by 11% to US$ 920.82 mn as against US$ 830.46 mn a year ago. Overall exports from the gem and jewellery sector during November stood at US$ 3.20 billion, a growth of 17.1% over the US$ 2.73 billion exported in the same month last year. Rough imports during the month at US$ 624.88 million fell by a massive 59.6% in value terms from US$ 1543.63 million last November.

In volume terms, 6.43 mn carats of rough were imported during the month, a drop of 57.02% compared with the imports of 14.96 mn carats during November ‘14. Imports of cut and polished diamonds fell to US$ 147.43 million in November 2015 from US$ 532.67 million a year earlier. Exports of gold jewellery (plain and studded) rose by 10.88% from US$ 830.46 million last year to US$ 920.82 million in November 2015

Exports of silver jewellery increased from US$ 155.18 million in November 2014 to US$ 379.51 million this year. Growth in the coloured gemstone segment declined by 15.8% in November this year with total exports standing at US$ 25.37 million compared to US$ 30.11 million last year.

Overall exports from the gem and jewellery sector in India during the first eight months of fiscal 2015-16 stood at US$ 25.90 billion, a decline of 3.43% from the US$ 26.83 billion exported in the same period last year. During the fiscal year to date, exports of cut and polished diamonds fell by 14.41% to US$ 13.59 bn this year, while Import of rough fell to US$ 8.65 bn this year, a decline of 27.2%.

Gold jewellery (studded and plain) exports were down 21.01% to US$ 5.52 billion in the first eight months of FY 2016, while that of medallions & coins more than doubled to US$ 3.68 bn in the same period. Silver jewellery exports rose 52.2% to US$ 2.05 bn and Coloured Gemstones exports were up 3.8% to US$ 286.98 mn between April-November 2015.