Surge in India's Polished Diamond Exports
March 12, 23
(IDEX Online) - India's cut and polished diamond exports surged during February, up by almost 20 per cent to £2.37bn.
In rupee terms the increase was even bigger, at just under 32 per cent, according to new figures from GJEPC (Gem and Jewellery Export Promotion Council).
Vipul Shah, the council's chairman, pointed to the recovery in China after Covid restrictions, the lunar New Year, and an expected "revenge buying" frenzy.
From April 2022 to February 2023 overall gross exports fell by just over seven per cent to $20.4bn.
Polished lab growns, still a small proportion of all diamonds, saw growth of almost 40 per cent in the same period to $1.57bn.
February's export of all gems and jewelry rose by just over 12 per cent to $3.49bn.