India: Polished Diamond Exports Get a Huge Boost in FY2022
India’s polished diamond exports rose by 49% from April 2021 to March 2022, according to figures recently published by India’s GJEPC (Gem and Jewellery Export Promotion Council) and quoted by IDEX Online reports.
Total gross sales totaled $24.2 billion, up from $16.3 billion year-on-year – a dollar rise of 48.8%. Rough imports were up by almost 74% to total $18.9 billion. Total volume in carats, however, rose by only 32% “amid spiraling prices rises.” Overall gross exports of all gems and jewelry went up 54% in the same period to total $39.1 billion.
GJEPC’s chairman Colin Shah said: “India’s exports to global markets bounced back 54 per cent, demonstrating the agility of the Indian G&J pipeline in adjusting quickly to an uncertain business environment marked by temporary Covid lockdowns and unprecedented demand surges.”