Indian Diamond Exports up in April
June 21, 07
The Indian diamond industry has started the 2007-2008 fiscal year on a positive note, with exports of cut and polished diamonds during April 2007 rising 6.72 percent to touch $770.49 million, compared to $721.98 million in April 2006. In carats, exports declined from 2.02 million carats to 2 million carats.
According to figures released by The Gem & Jewellery Export Promotion Council (GJEPC), exports of polished diamonds from manufacturing units actually rose by a much larger 16.25 percent to $746.75 million in April 2007 from $642.39 million last April.
However, the total was lower due to the fall in exports through the Bonded Warehouse scheme, which declined by almost 70 percent in dollar terms to $23.74 million from $79.59 million.
The value of rough diamonds imported during the month rose to $805.52 million from $769.57 million, a growth of 4.67 percent, while in carat terms it fell to 13.78 million carats from 14.62 million carats.
Exports of rough diamonds were up 69 percent in value, rising to $47.30 million, though in terms of carats they declined to 1.58 million carats.
Strong jewelry performance has continued with exports of gold jewelry increasing 14.82 percent in value to $390.60 million.
Overall, the gem and jewelry sector registered a 10.86 percent increase during the month, with total exports in all categories rising to $1,236.11 million from $1,115.07 million.