India’s Rough Imports Get a Boost in the Last Six Months
Figures released by India’s GJEPC (Gems and Jewellery Export Promotion Council) and quoted by IDEX Online show that India’ gross import of rough diamonds has jumped 255% to $9 billion from April to September 2021 “as it bounced back from Covid.”
Exports of gems and jewelry increased to $19.3 billion – more than double the $8.7 billion in the corresponding period in 2020. In September 2021, overall gross exports of gems and jewelry totaled $3.2 billion – a rise of 29.6% year-on-year. Imports were up 19.5% year-on-year to $2.3 billion in September.
Colin Shah, chairman of GJEPC, commented: “The sector has already achieved nearly half (46 per cent) of the $41.66 billion exports target set by the government. The sentiment in the industry is incredibly positive with markets opening up and demand gradually returning to normal.”