Slowdown in Indian Diamond Exports during July

Data released recently by The Gem & Jewellery Export Promotion Council, India, shows a 13 percent decline in the value of cut and polished diamond exports during the first four months of the Indian financial year as compared to the same period last year.

Exports during April-July 2006 were $3264.90 million, compared to $3765.76 million in 2005. In carat terms, exports declined from 14.66 million carats to 10.09 million carats.

The value of rough diamonds imported over the same period at $2922.33 million was down 7.14 percent compared to $3147.15 last year. In carat terms, rough diamond imports fell from 63.15 million carats to 56.08 million carats.

Exports of gold jewelry, however, showed a 28 percent increase in dollar terms, with exports rising from $973.35 million to $1246.91 million during the same period.