Second Month of Strong Indian Polished Diamond Exports

India exported in October 3.979 million carats of polished diamonds with a stated value of $1.496 billion, an average value of $440.19 per carat, according to provisional data released by the Gem & Jewellery Export Promotion Council (GJEPC). Net polished diamond exports totaled $732.03 million.

The gross exports are a 17 percent year-over-year rise in the value of exports and a 2.1 percent decline in volume. These figures indicate that the market is starting to see a revival in trade and a certain shift to higher value goods.

Polished diamond imports of 1.87 million carats totaled $763.97 million, rising 3.3 percent in volume and 25.8 percent in value.

In September, India reported its first year-over-year growth in exports since the onset of the economic crisis. Month-over-month, October’s exports declined 15.3 percent in value.

In the first seven months of the 2009 fiscal year, India exported $10.47 billion worth of polished diamonds, 7.4 percent less than in the corresponding period last year.