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India’s polished exports lower by 0.66%; rough imports records 16.19% increase

25 july 2014

India’s cut & polished diamond exports for month of June 2014 has registered $1,469 million (2,695,000 carats), showing a decrease of 0.66 percent against $1,478.81 million (2,806,000 carats) during June 2013, according to the provisional figures announced by the Gem & Jewellery Export Promotion Council (GJEPC) of India.
For the period of April 2014 to June 2014 too, cut & polished exports totalled $4,740.48 million (8,106,000 carats) as against $4,772.67 million (8,669,000 carats) for the period from April 2013 to June 2013, registering a 0.67 percent decrease.
India’s imports of rough diamonds have risen to $1,595.51 million (12,994,000 carats) for the month of June 2014 from $1,373.16 million (11,658,000 carats) of June 2013, registering a 16.19 percent increase. Rough imports for the period of February 2014 – June 2014 too shows an increase of 3.69 percent recording $5,130.12 million (38,491,000 carats) compared to $4,947.64 million (42,737,000 carats) for same period last year.
Exports of rough diamonds recorded $111.05 million (2,661,000 carats) for June 2014 as against $111.75 million (3,435,000 carats) in June 2013, a decline of 0.63 percent. Exports of rough stones decreased by 12.39 percent to $359.92 million (7,941,000 carats) for April 2014 – June 2014, from $410.82 million (11,760,000 carats) for the same period last year.
Polished diamond imports recorded $662.15 million for June 2014 as against $695.31 million for the same month last year, a 4.77 percent decrease. Polished imports showed a decrease of 8.04 percent by registering $1,502.09 million for the period February 2014 – June 2014 too from $1,633.38 million for the same period of the previous year.
The decrease in imports of polished diamonds is attributed to the Indian government’s steps to curb imports of cut & polished diamonds, which was adversely hurting the country’s cut & polished sector.

Aruna Gaitonde, Rough&Polished correspondent in India