News

Advanced Search

India’s Polished Trade Extends Recovery

Jul 18, 2021 7:17 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 
India’s polished-diamond exports registered their eighth consecutive year-on-year increase as the market continued to rebound, according to recent data from the country’s Gem & Jewellery Export Promotion Council (GJEPC). Shipments more than doubled to $2 billion in June 2021 versus $898.3 million a year earlier, when the Covid-19 crisis was still affecting the sector. Rough imports also jumped sharply following strong sales at the month’s De Beers sight.

India Trade Data for June 2021

  June 2021 Year-on-year change
     
Polished exports $2B 123%
Polished imports $89M -54%
Net polished exports $1.91B 171%
Rough imports $1.7B 461%
Rough exports $57M 82%
Net rough imports $1.64B 504%
Net diamond account $269M -38%
Polished exports: volume 2.9 million carats 144%
Average price of polished exports $687/carat -9%
     
  January-June 2021 Year-on-year change
     
Polished exports $11.98B 106%
Polished imports $1.12B 18%
Net polished exports $10.86B 124%
Rough imports $8.77B 170%
Rough exports $272M 2%
Net rough imports $8.5B 185%
Net diamond account $2.36B 26%
Polished exports: volume 15.2 million carats 97%
Average price of polished exports $789/carat 5%


Source: Gem & Jewellery Export Promotion Council; Rapaport archives.

About the data: India, the world’s largest diamond-cutting center, is a net importer of rough and a net exporter of polished. As such, net polished exports — representing polished exports minus polished imports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. The net diamond account is total rough and polished exports minus total imports. It is India’s diamond trade balance, and shows the added value the nation creates by manufacturing rough into polished.

Image: Diamond cutters in Surat, India. (Shutterstock)
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: COVID-19, data, De Beers, exports, Gem & Jewellery Export Promotion Council, GJEPC, India, net diamond account, net polished exports, Net rough imports, polished, Polished Diamonds, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data
Similar Articles
GIA report 140Indian Police Bust Counterfeit Diamond Scam
Sep 14, 2021
Police in India have uncovered a fraud scheme involving lower-quality diamonds bearing counterfeit Gemological Institute of America
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.