It’s been a volatile month in the sub-continent: according to provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC) and quoted by Rough & Polished, cut andpolished diamonds exports from India decreased 10% year-on-year in November, totaling $1.18 billion compared to $1.32 billion in November 2015.
Rough imports during the period totaled $1.19 billion – nearly double in value terms compared to $624.9 million imported during November 2015. In volume terms, 8.55 million carats of rough were imported during the month. The low business volumes were attributed to the Indian diamond industry being closed for the annual Diwali vacation during the month as well as due to the government’s decision in early November to withdraw 500 and 1000 rupee notes from circulation.
Imports of cut and polished diamonds were up 12.5% to $165.83 million in November 2016. Import of rough diamonds between April-November rose to $11.29 billion, an increase of 30.51% year-on-year.
