India’s Rough Imports Down 11% in June

Mumbai: Exports of gems and jewellery from India during June 2015 were down by 1.67% as compared to a year earlier due to weak global demand for diamonds and jewellery in almost all major markets. Total exports of gems and jewellery during the month stood at US$ 2,912.85 million as compared to US$ 2,962.42 million in June 2014, figures by Gem & Jewellery Export Promotion Council say.

Exports of cut and polished diamonds in June 2015 were US$ 1,853.99 million, slipping 2.22% as compared to US$ 1,896.01 million in June 2014. In volume terms, the decline was 6.40%, with the centre exporting 2.63 mn carats in June this year as against 2.81 mn carats in the same month a year earlier.

Imports of cut and polished diamonds fell by 63.77% to US$ 239.93 million in June 2015 from US$ 662.28 million a year earlier.

Reflecting the slack demand, imports of rough diamonds at US$ 1,509.22 million in June 2015 declined by 10.73% as compared to US$ 1,690.71 million a year earlier. In volume terms, 12.89 mn carats of rough were imported during June 2015, a decline of 4.8% compared with the imports of 13.55 mn carats during June 14.

Similarly, exports of gold jewellery (plain and studded) fell by 24.10% from US$ 792.48 million last year to US$ 601.53 million in June 2015.

Exports of silver jewellery rose from US$ 115.88 million in June 2014 to US$ 274.41 million this year. The coloured gemstone segment saw strong growth in June this year with total exports registering US$ 56.15 million compared to US$ 41.17 million last year.

Over the first quarter of fiscal 2016 that ended on June 30, total gem & jewellery exports stood at US$ 8,955.74 mn (down 5.46%), exports of cut and polished diamonds were US$ 5,232.97 (down 7.52%) and imports of rough were US$ 4,202.66 mn (down 19.47%). In volume terms, India exported 7.74 mn cts of polished (down 7.41%) and imported 35.17 mn cts of rough (down 9.91%).