India’s exports of polished diamonds plunged 42 percent on the year to $1.04 billion in January, according to provisional data provided by the nation’s Gem & Jewellery Export Promotion Council, Rapaport reported.
In volume terms, polished exports also dropped sharply – down 36 percent to 1.8 million carats.
As for polished imports, they plummeted by 47 percent to $197.3 million, leaving net polished exports 40 percent lower at $847.5 million.
In rough diamond imports, there was a rise of 16 percent to almost $991 million last month compared with January last year.
And rough exports edged up 0.7 percent to $107 million, leaving net rough imports 19 percent higher at $883.4 million.
During January, India imported $4 million worth of rough synthetic stones, mostly diamonds. Imports of synthetic polished stones came to $10.4 million while exports were just $2.8 million.
In 2015, India’s polished diamond exports declined by11 percent, with rough imports down 22 percent last year.
