Figures released by India’s Gem & Jewellery Export Promotion Council (GJEPC) and quoted by IDEX Online show that India’s polished diamond exports fell to $1.26 billion in October – a 25% decline month-over-month, and a 33% fall when compared to October 2022.
There is no monthly breakdown of rough imports, making it hard to gauge the extent to which manufacturers are adhering to the voluntary two-month ban initiated on October 15. The GJEPC reported an 18% decrease in rough imports from April to October.
Lab-grown diamond exports fell 24% during the month, while “India’s total exports of all gems and jewelry” experienced a 12% fall, totalling $2.75 billion.
