India: Polished Diamond and Gold Jewellery Exports Slow in June

According to data released by India’s Gem & Jewellery Export Promotion Council (GJEPC), exports of cut and polished diamonds from India dropped 19.38% year-on-year to $1.68 billion in June 2019. Gold jewellery exports also fell, declining 15.41% year-on-year to $913.88 million.

Rough diamond imports dropped 36.79% to $969.15 million in June, while imports of cut and polished diamonds fell 24.59% to $106.40 million. Exports of silver jewellery rose to $70.51 million in June 2019, compared to $40.58 million in June 2018. Coloured gemstone exports fell to $24.52 million in June 2019, compared to $40.78 million exported in June 2018.

Polished diamond exports during April-June 2019 were down 17.33% to $5.2 billion, while imports of polished diamonds fell 20.11% to $278.47 million. During the fiscal year to date, import of rough diamonds fell 25.78% to $3.41 billion. In April-June 2019, exports of gold jewellery fell to $3.03 billion, compared to $3.24 billion during the first three months of the previous fiscal.

Exports of synthetic stones during April-June 2019 totalled $100.40 million, compared to $62.39 million in the same period a year earlier. Exports of silver jewellery nearly doubled to $237.01 million, and coloured gemstones exports fell 11.82% to $86.02 million in April-June 2019.

Courtesy: IsraeliDiamonds