Coronavirus: India's Diamond Exports Slump 40 per cent
March 17, 20
(IDEX Online) - India's gross exports of cut and polished diamonds slumped by more than 40 per cent last month because of the Covid-19 pandemic.
Totals were down from $2.34bn in February 2019 to $1.38bn for this February, according to The Gem & Jewellery Export Promotion Council (GJEPC).
But exports of gold jewelry were up, as were overseas sales of polished lab-grown diamonds, albeit from a low base ($23.35m to $37.05m).
About 40 per cent of the country's rough and polished diamond sales are to Hong Kong, where imports were halted on 15 January because of Covid-19 and have yet to resume.