Another Steep Decline in India's Diamond Exports
August 23, 23
(IDEX Online) - India suffered another steep decline in gross exports of polished diamonds during July, down just over 39 per cent to $1.17bn.
Ongoing weak demand had a more severe impact than June, when year-on-year exports slid by 31 per cent. Foreign sales during May appeared to show some recovery with a more moderate fall of 17.5 per cent.
Gross imports of rough diamonds were down by 21 per cent from April to July, according to new figures from the Gem & Jewellery Export Promotion Council (GJEPC). It did not provide a monthly breakdown for July.
Exports of polished lab growns also slipped, down 28.5 per cent to $444m during July.
India's overall exports of gems and jewelry fell by 31 per cent during July, to a total of $2.17m.