India’s polished exports fell to 15 per cent in October

India’s polished diamond exports dropped by 15 per cent Y-O-Y to $2.219 billion in October, says a data published by the Gem and Jewellery Export Promotion Council (GJEPC).

This apart, by volume, exports fell by 16 per cent to 3.786 million carat, while the average price of the exports rose 2 per cent to $686.78 per carat. Polished imports rose 3 per cent to $600 million during the month. As a result, net polished exports, representing the excess of exports over imports, fell by 20 per cent to $1.619 billion. India’s rough imports declined 17 per cent to $1.006 billion in October and rough exports dropped 37 per cent to $107 million. Net rough imports, or rough imports minus exports, dropped 14 per cent to $899 million. During the first 10 months of the year, India’s polished exports rose 2 per cent to $19.199 billion, while polished imports grew 2 per cent to $6.21 billion. The rough imports rose 7 per cent to $14.557 billion during the 10-month period, and rough exports fell 19 per cent to $1.295 billion. Net rough imports increased 11 per cent to $13.263 billion, adds a report.