The Gem & Jewellery Export Promotion Council (GJEPC) of India has released its monthly data on the country's diamond trade for March 2024.
Overall gross exports of polished diamonds in March fell 27.4% to $1.164 billion as compared to $1.605 billion during the same period of the previous year. For the period of April - March (since the beginning of the financial year) polished exports declined by 27.6% to $15.966 billion, from $22.047 billion during the same period of the previous year.
Rough diamond imports to India fell by 15.7% to $1.393 billion in March 2024 compared to $1.652 billion for the same month a year earlier. From April to March, imports of uncut diamonds fell 17.9% to $14.267 billion, from $17.367 billion during the same period of the previous year.
The overall gross imports of polished diamonds to India in March 2024 stood at $121.3 million, a growth of 34.7% compared to March of the previous year. In April-March, they grew by 46.1% and amounted to $1.911 billion as compared to $1.308 billion for the same period of the previous year.
According to provisional data, gross exports of polished lab grown diamonds (LGD) for March 2024 grew by 11% and stood at $123.7 million, while in March of last year the figure amounted to $111.4 million. During the period of April-March, polished LGD exports were down 16.5% to $1.402 billion as compared to $1.680 billion for the same period a year earlier.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
