India’s Net Polished Diamond Exports $582.5M in February
March 21, 10
India’s gross polished diamond exports rose to $1.37 billion in February, jumping 59.1 percent year-over-year, according to provisional data published by the Gem & Jewellery Export Promotion Council (GJEPC). The diamond hub shipped 3.78 million carats during the month, rising from 2.82 million carats the year before.
The sharp rise in exports comes as the global markets are recovering from last year’s economic crisis and consumers are allowing themselves to spend on luxury items.
Polished diamond imports of $787.8 million marked a 17.1 percent increase compared to February 2009.
Net polished diamond exports stood at $582.5 million, some 209.4 percent higher that the $188.25 million in net exports in February 2009.
The average value of gross exports also rose, increasing from $305.41 per carat last year to $362.51 p/c.