Monday, December 21st 02:49 PM IST

India's polished Diamond exports fall 15% to $1.32 bn in Nov: GJEPC

# India Diamond  # Polished Diamond  # Exports  # Imports  

Rough diamond imports plummeted 60% to $624.9 million and rough exports slumped 34% to $62.1 million, leaving net imports - rough imports minus exports - 61% lower at $562.8 million.

MUMBAI (Bullion Street): India’s polished diamond exports declined 15% to $1.32 billion year-on-year in November, according to provisional data from the Gem & Jewellery Export Promotion Council (GJEPC).

By volume, polished exports fell 16% to 2.2 million carats. Polished imports plummeted 72% to $147.4 million, leaving net exports - polished exports minus imports - 14% higher at $1.17 billion.

Rough diamond imports plummeted 60% to $624.9 million and rough exports slumped 34% to $62.1 million, leaving net imports - rough imports minus exports - 61% lower at $562.8 million.

India’s net diamond account, which is calculated as the difference between net polished exports and net rough imports, increased from negative $422 million in November 2014 to positive $612.1 million this year.

During the month, India imported $630,000 worth of rough synthetic stones, most of them diamonds. Polished synthetics imports, meanwhile, totaled $5.8 million and exports were $6 million.

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