During the months April to October 2008, GJEPC reports that India’s trade in gem and jewellery has seen a surge both in exports and imports. The imports increased by 24.57 percent to US$ 12,909.38 million, in which rough diamond imports increased by 10.95 percent over the same period last year to US$6,364.93 million. Import of cut and polished diamonds increased by 64.72 percent to US$ 4,477.43 million, compared to the same months last year. Gold jewellery import dipped by 21.18 percent to US$ 199.77 and that of gold bars by 12.4 percent.

Export surged by 9.4 percent to US$ 1,2953.61 million over the same period in the previous year. Gold jewellery exports amounted to US$ 2,832.64 million, decreasing by 8.4 percent over last year. Rough diamond exports surged by 79.3 percent over last year, amounting to US$ 554million and coloured gemstone exports also increased by 19.32 percent to US$ 172.05 million. Cut and polished diamonds saw 13.72 percent increase in exports over last year, amounting to US$ 9,277.37 million.