Indian Polished Diamond Exports Decline
June 15, 06
Polished diamond exports from
According to the Indian Gem & Jewellery Export Promotion Council (GJEPC), during the same period in 2005, the center exported 5.31 million carats of goods worth $1,702.21 million.
Cut and polished diamond imports fell 52.58 percent to $244.4 million (carat figures were not published).
Over the past few months Indian diamond traders have been warning that the polished diamond situation is becoming problematic. The situation today is such that one trader warned of an impending 'tsunami.' “It’s going to be a disaster,” he said, “but maybe it’s necessary for us so we can clean the table.”
The rough diamond situation is not much better. Rough diamond exports fell 12.02 percent in value to $79.58 million; a slight fall in volume to 5.49 million carats from 5.78 million carats compared to April and May 2005.
Rough diamond imports rose to $1,469.89 million on imports of 28.3 million carats
While loose diamonds are suffering, gold jewelry exports surged 43.85 percent during the period to $598.99 million. Including exports from the three economic zones, total gold jewelry exports were $602.84 million, up from $421 million in 2005.
Colored gem exports also fared well, rising to $37.37 million in the April-May period from $35.16 million during the comparable two month period last year.