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India's diamond exports up 11%, jewellery exports up 28%

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Staff writer ▼ | December 19, 2014
November saw the India centre register growth in exports of both polished diamonds and gold jewellery (plain and studded), the two largest segments of the gems and jewellery sector, according to the figures released by GJEPC. Overall gross exports for the sector rose by 16% during the month.
India diamonds
Plain and studded   People of India make nice jewellery
Exports of polished diamonds were up by 10.98% year on year to $1.56 bn from $1.41 bn a year ago, with cumulative exports between April-November 2014 at $15.86 bn dropping by 7.7% from the $17.18 bn exported during the comparative period a year ago.

Imports of rough diamonds rose by 8.5% in value terms during November 2014 from $1.14 bn to $1.54 bn and from 11.32 mn carats last year to 14.96 mn carats in Nov 2014 in volume terms.

For the year to date, rough imports have grown 8.51% to $11.87 billion from $10,945.71 mn a year earlier, while in volume terms they declined by 8.3% from 109.03 mn carats to 99.97 mn carats during the same period.

Similarly, exports of gold jewellery (studded and plain) from India showed a significant 28% leap during the month reaching $679.47 mn as against $530.77 mn of a year ago. For the first eight months of the Indian financial year, cumulative gold jewellery exports stood at $6.42 bn, up from $4.98 bn for the same period a year ago.

However, exports of jewellery from the SEZ/EPZ units declined by 17.1% from $3.20 billion to $2.66 billion during the April-November period. It may be recalled that a study carried out by Accenture on behalf of GJEPC has listed a number of required policy changes to revive manufacturing activity within these zones.

Exports of coloured gemstones in Apr-Nov 2014 declined to $276.73 mn from $470.03 mn the previous year and that of silver jewellery in the same period rose by 26.6% year-on-year to $1.31 bn from $1.03 bn in 2013.