News

Advanced Search

India Sees Rise in Polished Exports

Apr 30, 2018 4:26 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... India’s polished-diamond exports grew 8% in March, according to data the nation’s Gem and Jewellery Export Promotion Council (GJEPC) released Friday.

Shipments increased to $2.03 billion year on year for the month, with the volume of exports falling 8% to 2.8 million carats, the GJEPC figures showed. The average price of exports jumped 18% to $721 per carat.

Polished imports slumped 34% to $192 million, resulting in net polished exports — calculated as polished exports minus polished imports — rising 16% to $1.83 billion.

Rough imports climbed 5% to $1.68 billion, while rough exports fell 24% to $140 million. Net rough imports, representing rough imports minus rough exports, went up 9% to $1.54 billion.

India’s net diamond account — total rough and polished exports minus total imports — leaped 76% to $293 million in March.

In the January-to-March period, polished exports increased 11% to $6.54 billion, while polished imports slipped 24% to $487 million, according to Rapaport calculations. Net polished exports climbed 15% to $6.05 billion.

Rough imports rose 10% to $4.8 billion for the three months, with rough exports sliding 25% to $357 million. Net rough imports grew 14% to $4.44 billion. The country’s net diamond account increased 18% to $1.61 billion for the period.

During the Indian fiscal year that ended March 31, polished exports increased 4% to $23.73 billion, while total gem and jewelry exports fell 5% to $40.97 billion, the GJEPC added.

“With changing lifestyles and improvement in living standards, the gems and jewelry sector is likely to grow at a rapid pace,” said Pramod Agrawal, chairman of the trade body. The GJEPC expects the industry’s workforce to expand by an extra three million people by 2022, he added.
Tags: exports, Gem and Jewellery Export Promotion Council, GJEPC, imports, imports and exports, India, net diamond account, net polished exports, polished, polished exports, Pramod Agrawal, Rapaport News, rough exports, trade data
Similar Articles
Business BotswanaDe Beers Can Do More, Botswana Group Says
Jun 18, 2019
A Botswana employers’ advocacy group has called out De Beers for failing to provide substantial opportunities for
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
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.