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India’s polished diamond exports dip 49% in March

21 may 2020

During March 2020, cut and polished diamond exports from India totalled $ 960.49 mln as against $ 1,858.33 mln in March 2019, registering a decline of 49%.
Rough imports during March 2020 declined, dipping by 64.81% to $ 292.71 mln as compared to $ 831.69 mln imported during March 2019, according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) of India.
Imports of cut and polished diamonds rose to $ 239.10 mln in March 2020 from $ 108.94 mn in the same month in 2019.
Exports of rough diamonds recorded $ 72.94 mln in March 2020 as compared to $ 196.61 mn in March 2019.
Exports of polished lab-grown diamonds stood at $ 20.18 mln during the month as against $ 24.83 mln March 2019.
Imports of rough lab-grown diamonds stood at $ 5.43 mln during March as against $ 12.11 mln a year ago, while imports of polished lab-grown diamonds dropped to $ 5.55 mn in March 2020 as compared to $ 7.19 mln in March 2019.
India’s export of cut and polished diamonds dipped drastically below last year’s levels at $18.66 bln in FY2019-20, down 21.64% from the $ 23.81 bln exported during FY2018-19. 
During fiscal 2020, imports of polished diamonds rose by 29.02% to $ 1.71 bln as compared to $ 1.33 bln during the previous financial year.
Import of rough diamonds during the year registered a drop of 16.25% to $ 12.68 bln from $ 15.14 bln in the earlier year.
Exports of rough diamonds totalled $ 1.10 bln in fiscal 2020 as compared to $ 1.35 bln a year earlier. 
Exports of rough lab-grown diamonds stood at $ 7.35 mln in the FY2019-20 as against $ 16.52 mln in FY2018-19. 
Exports of polished lab-grown diamonds stood at $ 413.39 mln during the Fiscal 2020 period as against $ 220.27 mln during Fiscal 2019.
Imports of rough lab-grown diamonds recorded $ 324.04 mln in fiscal 2020, up from imports of $ 135.77 mln in the earlier year. Imports of polished lab-grown diamonds also rose to $ 98.07 mln in FY2019-2020 as compared to $ 93.07 mn FY2018- 2019.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished