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Diamond exports up 1.29%, imports 5% in April-November

29-Dec-2017
Diamond exports up 1.29%, imports 5% in April-November

Diamond exports up 1.29%, imports 5% in April-November

India’s exports of cut & polished diamonds jumped 1.29 per cent while imports climbed 5 per cent during the April-November period on strong demand, data published by the Gems and Jewellery Export Promotion Council (GJEPC) showed.

“Strong festive demand from Western countries kept export and imports of diamond up,” said Stawan Ajmera a Mumbai-based diamond trader.

India’s cut and polished diamonds exports during April-November climbed to $15.604 billion compared with $15.405 billion carats in the same period a year ago.In volume term exports during April-November have climbed to 24.024 million carats compared to 21.622 million carats during same period a year ago.

Exports of rough diamonds from India during the first eight month of the current financial year stood at 24.11 million carats worth $952.18 million compared with 19.58 million carats worth $942.41 million in the same period a year ago.

During November India exported 2.619 million carat cut and polished diamonds worth $1.77 billion compared with 1.58 million carat diamonds worth $1.18 billion exports during November 2016, data showed.

India is the world's largest cutting and polishing centre for diamonds, with the cutting and polishing industry being well supported by government policies. Moreover, India exports 75 per cent of the world’s polished diamonds, as per statistics from GJEPC.
 
However, gems and jewellery exports during April-November dropped by 4.78 per cent to $22.43 billion compared with $23.56 billion in the same period a year ago.

India’s gold coins, coloured gemstones and silver jewellery exports during April-November dropped 4.34 per cent to $26.68 billion compared with $27.82 billion a year ago.

India’s gold jewellery exports dropped 3.18 per cent to $6.004 billion during April-November compared with $6.20 billion in the same period a year ago.
Meanwhile, imports of rough diamonds during same period under review climbed 5.34 per cent to $11.91 billion compared with $11.31 billion corresponding year ago.

In volume terms imports climbed to 12.82 million carats during April-November compared with 9.29 million carats in the same period a year ago, data showed.

During November India imported 21.7 million carats roughs worth $1.94 billion that is higher than 8.54 million carats worth $1.19 billion imported in the same period a year ago.

Imports of gold jewellery also climbed to $26.34 million during the period under review compared to $14.73 million a year ago.
Silver jewellery imports during November also jumped to $7.27 million compared with $3.90 million during November 2016.


Source:- Mydigitalfc.com

















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