India's March-December Polished Exports Jump to $7.59 Billion

Indian cut and polished diamond exports for the first nine-month of the current fiscal year ending December 31 amounted to $7.59 billion – a rise of 29.1 percent on the same period a year earlier, according to figures from the Gem and Jewellery Export Promotion Council, the industry's umbrella organization.

In carat terms, cut and polished diamond exports rose 24.8 percent to 33.2 million carats from 26.6 million carats a year earlier.

Meanwhile, gold jewelry exports showed an even sharper increase – up 63.4 percent on last year to $2.75 billion.

Colored gemstone exports rose a more modest 13.3 percent to $136.5 million.

Exports of rough diamonds were the only category to show a decline – down 44.2 percent to $233.7 million.

Total exports from the period were $10.82 billion, an increase of 32.2 percent.

India's gems and jewelry export target for the 2004-05 fiscal year is $13.3 billion and the latest figures indicate that the country is on track to reach its goal. The country’s fiscal year is from April to March.