India’s cut and polished diamond exports declined by 38.85% recording $ 918.44 mn during July 2020 as against $ 1501.97 mn exported in July 2019, according to provisional data released by the Gem & Jewellery Export Promotion Council of India.
Rough imports during July declined 81.63% to $ 230.90 mn as compared to $ 1094.58 mn imported during July of the previous year. Exports of rough diamonds totalled $ 19.10 mn in July 2020 as compared to $93.14 mn in July 2019. Imports of cut and polished diamonds increased to $ 271.90 mn in July 2020 from $113.93 mn in the same month in 2019.
Exports of rough lab-grown diamonds recorded $ 38.75 mn in July 2020 against $ 34.55 in July 2019, a rise of 12.18%.
Imports of rough lab-grown diamonds stood at $ 18.11 mn in July 2020, down from $26.51 mn in July 2019. Imports of polished lab-grown diamonds dipped to $ 4.15 mn in July 2020 as compared to $ 6.90 mn a year earlier.
During the fiscal year, polished diamond exports (during April-July 2020) were down $2720.14 mn to $ 6706.09 mn exported over the same months in 2019, a decrease of 46.48%.
Import of rough diamonds showed a decline of 81.63% recording $ 712.55 mn from $ 4506.54 mn during April-July in 2019.
Imports of polished diamonds increased 58.77% to $ 575.37 mn during April-July 2020, as compared to $ 392.60 mn for the same period in 2019. Exports of rough diamonds totalled $ 59.00 mn in April-July 2020 less 81.38% as compared to $ 443.79 mn a year earlier.
Exports of polished lab-grown diamonds totalled $ 77.74 mn during the April-July 2020 period down 23.49% as against $ 120.91 mn a year earlier. Imports of rough lab-grown diamonds recorded $ 58.09 mn in April-July 2020 as against $ 94.13 mn in the same period in 2019. Imports of polished lab-grown diamonds declined to $ 10,36 mn in April-July 2020 as compared to $ 26.19 mn during April-July 2019, down 58.54 per cent.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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