Figures released by the Gem & Jewellery Export Promotion Council (GJEPC) and quoted by IDEX Online show that India‘s gross exports of polished diamonds declined in September month-on-month. However, the actual foreign sales in dollars have increased on a monthly basis.
In September, exports totaled $1.67 billion – a nearly 19% increase from August. August, in turn, saw exports rise by almost 16% compared to July. Between April and September, India’s gross imports of rough diamonds reached $7.46 billion – a 20.8% fall compared to the same period in 2022. GJEPC did not provide a monthly breakdown of imports. Gross exports for September totaled $3.02 billion, representing a 19.8% decrease year-on-year.
The forthcoming months are expected to be affected by a voluntary ban on rough diamond imports proposed by GJEPC and other industry bodies, in effect from October 15 to December 15.