India’s polished diamond exports totaled $773 million in December, reflecting a 10.4% decline in dollar terms compared to December 2023, according to the latest data released by the Gem & Jewellery Export Promotion Council (GJEPC).
This marks a significant improvement from November’s figures, which indicated a 40% year-on-year drop, with exports amounting to $660 million.
India’s diamond exports have been declining over the past year due to a series of challenges facing the industry. In fact, polished diamond exports from India recorded a year-on-year decline every month in 2024, except for October, when exports saw an 11.3% increase.
The decline in India’s polished diamond exports in December was part of a broader 10.3% decrease in the country’s total gem and jewelry exports for the month, which amounted to just under $2 billion.