India's Polished Exports Rise Sharply in November

(IDEX Online) - India's polished diamond exports rose sharply last month compared with November 2024, reflecting signs of greater market stability.

However, the 38 per cent increase in USD terms largely reflects last November's unusually low activity, when major diamond units in Surat extended their Diwali closures from two weeks to a full month, rather than an exceptional performance this November.

According to the latest figures from the Gems and Jewellery Export Promotion Council (GJEPC), sales in November reached $920m, down 10 per cent from $1.026bn in October.

The broader trend, meanwhile, remains downward: exports of polished diamonds from April to November fell to $8.2bn, down from nearly $9.0bn over the same period last year.

By contrast, the wider gem and jewellery sector showed healthy growth. November exports rose almost 20 per cent year-on-year, with plain gold jewelry up nearly 15 per cent and studded gold jewelry up 6.5 per cent between April and November.

"Markets are stabilising, and demand in many export destinations is picking up, including Hong Kong, China, and the Middle East," GJEPC chairman Kirit Bhansali told the PTI news agency.

"Even though the US market remains slow, robust demand elsewhere is contributing to growth. Exports of gold-studded jewellery have surged as job work demand has increased in India."

File pic of diamond polishing, Surat.