NEW DELHI: Indian’s polished diamond exports for two months in the start of the financial year fell 10 per cent year on year to $3.37 billion, according to the data published by the Gems and Jewellery Export Promotion Council (GJEPC).
The polished diamonds exports fell 9.3 percent year on year to $1.742 billion in May, while exports declined 53.3 percent by volume to 2.591 million carats. Polished imports, however, slid 54 percent to $195.5 million, leaving net exports up 3.3 percent to $1.547 billion.
However, the overall exports of gems and jewellery from India during May 2015 declined by 6.9% as compared to a year ago, reflecting the myriad challenges being faced in global markets, as well as the currency fluctuations during this period.
Total exports of gems and jewellery during the month of May 2015 stood at $ 2,504.51 million as compared to $ 2,690.12 million in May 2014.
Rough diamond imports declined 14 percent to $1.323 billion, while rough exports fell 17.4 percent to $118 million, leaving net imports down 13.7 percent at $1.205 billion. India’s net diamond account in May rose to $342 million compared with $101 million one year earlier.
