India’s Polished Diamond Exports $970.22 Million in May

In May, India exported 2.434 million carats of polished diamonds with a declared value of $970.22 million, an average value of $398.61 p/c (per carat), according to provisional data released by the Gem and Jewellery Export Promotion Council (GJEPC).

In volume, this is a 1.83 percent decline compared to May 2006, while in dollar terms this represents a 7.60 percent rise. In rupees, the rise was more moderate, 2.24 percent, due to the weakening of the dollar.

This brings the 2007-2008 fiscal year total to 4.69 million carats valued at $1,737.24 million, averaging $370.41 p/c.

India’s polished diamond imports were 57,000 carats worth $199.11 million, an increase of 25.29% from May 2006.

Gold jewelry exports in May rose a sharp 171.48 percent to $988.80 million.