Exports of cut and polished diamonds from India rise 3.91% during first 9 months of fiscal 2018-19: GJEPC
New Delhi, Jan 16 (KNN) Exports of cut and polished diamonds from India rose 3.91% during the first nine months of fiscal 2018-19, while gold jewellery (plain and studded) exports were up 28.32% during the same period, according to provisional data released by the Gem & Jewellery Export Promotion Council (GJEPC).
However, gross exports across all segments of gems and jewellery registered a decline of 4.97% dropping from US$ 30.42 billion during April-Dec 2017 to US$ 28.91 billion in April-Dec 2018.
Imports across the sector during the same period were down 14.83% from US$ 23.71 billion last year to US$ 20.19 billion this year, it added.
Imports of cut and polished diamonds were down to US$ 111.57 mn in December 2018 from US$ 218.81 mn in the same month a year earlier.
Exports of gold jewellery (both studded and plain) during the month were down by 22.77% to US$ 672.34 million from US$ 870.52 mn a year earlier. Exports of silver jewellery dropped to US$ 75.78 million in December 2018 as compared to US$ 220.32 million in the same month last year.
Coloured gemstone exports fell to US$ 18.36 million in December 2018 as compared to US$ 20.31 million exported during the same month a year earlier.
Polished diamond exports during April-December 2018 were up 3.91% to US$ 17.86 bn as against the US$ 17.19 bn exported over the same months last year, while imports of polished diamonds fell by 40.65% to US$ 1.04 billion as compared to US$ 1.75 billion for the same period of the previous year.
During the fiscal year to date, import of rough diamonds showed a decline of 14.34% to US$ 12.07 bn from US$ 14.09 bn a year earlier. In volume terms, imports fell by 10.56% from 141.2 mn cts in April-December 2017 to 126.3 mn cts in the same period in the current fiscal.
In April-December 2018, exports of gold jewellery (both plain and studded) rose to US$ 8.77 bn as against US$ 6.84 bn during the first nine months of the previous fiscal.
Exports of synthetic stones during April-December 2018 were US$ 151.70 mn, with synthetic diamonds (HS 71049010) accounting for US$ 148.43 mn as compared to US$ 151.95 mn during the comparative period a year earlier.
Exports of gold medallions & coins declined by 84.7% to US$ 258.35 million in the nine-month period, while silver jewellery exports dropped by 81.4% to US$ 578.95 million, and Coloured Gemstones exports were down by 3.71% at US$ 274.73 million in April-December 2018.
December was a relatively slower month for the India centre. Exports of cut and polished diamonds stood at US$ 1.31 billion, a decline of 17.51% as compared to the US$ 1.59 bn exported in December 2017.
GJEPC data reveals “Rough imports dropped during the month to US$ 1.74 billion as compared to US$ 2.18 billion imported during the previous December. In volume terms, also rough imports fell from 20.76 mn carats during December 2017 to 19.29 mn carats in December 2018.”