India’s gem and jewellery exports slip 23.61% in July

In July 2017, India’s gem and jewellery exports dropped 23.61 percent to US$ 2.42 billion, from US$ 3.17 billion in the same month in 2016, reports say. Cut and polished diamonds exported reached a value of US$ 1.645 billion (US$ 1.651 billion in July 2016). Imports of cut and polished diamonds slipped 8.4 percent to US$ 227.9 million while in July 2016 they stood at US$ 248.88 million.

Rough diamond imports valued US$ 1.33 billion following a 6.1 percent dip (US$ 1.41 billion in July 2016). The said imports in July 2017 were 13.7 million carats or a 16 percent increase from 11.8 million carats imported in July ‘16.

Exports of coloured gemstone rose to US$ 12.1 million (US$ 10.38 million in the comparative month of 2016).

Gold jewellery (both studded and plain), exports witnessed almost a 32 percent drop to US$ 411.37 million from US$ 602.04 million in the previous year. Gold medallions and coins exported in July 2017 slipped from US$ 435.9 million in July 2016, to US$ 58.7 million in July this year. Silver jewellery exports also dropped from US$ 336.41 in July 2016 to US$ 185.93 million in July 2017, reports suggest.