Reports from the Gem & Jewellery Export Promotion Council (GJEPC) inform that India’s net diamond account was $320.87 million in red, for the term January through April 2008. A year ago it was worth $366.73 million. The export and import performances by Indian diamond companies during April, indicate that India’s April net diamond account (net polished exports less net rough imports) was worth $300.01 million in the red, while it was $107.08 million in the red one year ago.

India's net polished exports (polished exports minus imports) declined by 10 percent to $588.83 million. While polished diamond exports increased by 42 percent to $1.24 billion in April, polished imports grew by 197 percent to $652.29 million in the month.

The country’s net rough imports (rough imports less rough exports) scaled by increased 17percent to $888.84 million. The rough imports increased by 23 percent to $993.53 million in April, while exports took a steeper rise of 121 percent to $104.69 million.

Year to date-wise, India’s polished exports increased by 33 percent valuing $5.37 billion, and imports by 219 percent to $2.44 billion. Net polished exports fell 10 percent to $2.93 billion. Rough imports grew 13 percent to $3.53 billion, while exports by 24 percent to $278.7 million. Net rough imports increased by $3.25 billion.