Provisional data released by India’s Gem and Jewellery Export Promotion Council (GJEPC) and quoted by Art of Jewelry, shows that exports of cut and polished diamonds increased 49.9% year-on-year. Exports of gems and jewelry increased 27.25% to $3.27 billion in November.
GJEPC said that the rise “has quashed fears of a slowdown” after the demonetisation announced in November 2016 and the fact that the Diwali festival was celebrated in November last year, but fell in October this year.
Rough diamond imports went up 63.6% in value terms during November to $1.95 billion. Exports of gold jewelry (both studded and plain) rose 75.46% to $996.32 million. Exports of silver jewelry dropped to $225.30 million in November 2017, compared to $327.70 million in the same month last year.
During April-November 2017, polished diamond exports were up 1.29% to $15.60 billion. Exports of gold jewelry (both plain and studded) dipped by 3.18% to $6.01 billion.
