NEW DELHI: India’s polished diamond exports jumped 11 percent to $1.94 billion in August, according to provisional data provided by the Gem & Jewellery Export Promotion Council. By volume, polished exports increased 1.4 percent to 2.87 million carats. Polished imports increased 9 percent to $264 million, leaving net exports 11 percent higher at $1.68 billion. Rough diamond imports soared 72 percent to $1.05 billion, while rough exports jumped 39 percent to $122.4 million. Net rough imports leapt 78 percent to $928 million.
India’s August net diamond account, calculated as the different between net polished exports and net rough imports, slid 24 percent to $751 million. During the month, India imported $13.8 million of rough synthetic stones. Polished synthetic imports, meanwhile, totaled $8.8 million and exports were $11.1 million.
India’s polished exports dipped 0.5 percent to $14.4 billion, while polished imports slumped 23 percent to $1.94 billion in the first eight months of the year, according to Rapaport calculations. Net polished exports increased 4.1 percent to $12.46 billion. Rough imports increased 17 percent to $10.98 billion during the January to August period, while rough exports grew 17 percent to $970 million. Net rough imports rose by the same percentage to $10 billion. The country’s net diamond account fell 29 percent to $2.45 billion during the eight-month period.
