India’s Polished Diamond Exports Sizzled in August

India exported 4.24 million carats of polished diamonds to the tune of $1.317 billion in August. This is an impressive 35 percent growth in volume and 43 percent in value. This is at a time when many of the diamond centers are on vacation.

According to provisional data released by the Gem and Jewellery Export Promotion Council, in the first five months of the fiscal year, exports have grown by more than 20 percent, totaling 17.116 million carats worth $5.091 billion.

The average value of exports has also grown. In August, the average was $310.61 per carat, compared with $293.87 p/c in August 2006.

Polished diamond imports nearly doubled in August. 1.38 million carats were 241.58 percent above last year. In value, the growth was a “modest” 187 percent to $473.76 million, for an average value of $343.30.