India’s gem and jewellery exports dip 17.5% in October

The month of October was hard on India's cut and polished diamond trade. The overall exports slipped 17.5 percent (on y-o-y basis) to US$ 2.95 billion, reports say. There was a similar drop in the exports of cut and polished diamonds which made up a major proportion of the total gem and jewellery exports. The cut and polished diamond exports slipped 17% percent to US$ 1.84 billion. Cut and polished diamond imports declined from US$ 599.54 million in October 2014 to US$ 282.21 million in October 2015.

Some upward movement was seen in rough diamond imports in the month, which rose 14.6 percent to US$ 1,072.7 million. There was also a rise in the volumes of the said imports, by 24.8 percent to 10.89 million carats.

Gold jewellery (plain and studded) exports dropped 20.7 percent to US$ 834.1 million in October 2015 and silver jewellery exports showed an opposite trend of an increase by 6.97 percent to US$ 174.27 million. Coloured gemstone exports stood at US$ 21.28 million from US$ 21.79 million in October 2014, as per reports.