During the period April 2008 to February 2009, the overall exports of gems and jewellery from India dipped in dollar terms by 4.62 percent to US$ 17791.40 million, while in the same period the previous year the exports amounted to US$ 18653.63 million. Export of rough diamonds increased by 42.96 percent kin dollar terms amounting to US$712.09 million, from US$498.11 million. Contrary to this, export of cut and polished diamonds fell by 6.39 percent in dollar terms, amounting to US$ 11876.45 million, from US$ 12687.19 million for the same period of previous year. Whereas, in rupee terms, the reduction on import duty on cut and polished diamonds and other inputs has helped increase the value of exports of cut and polished diamonds in rupee terms from Rs.51116.67 crores to Rs.53004.59 crores.

Also export of gold jewellery fell by 4.85 percent in dollar terms amounting to US$ 4764.68 million, from the comparative figure of US$ 5007.32 million in the previous fiscal. Coloured gemstones’ exports were worth US$ 248.09 million after increasing by 1.00 percent in dollar terms during April 08 –February 09, while in the same period last fiscal India exported US$ 245.63 million worth of coloured gemstones.

In the month of February 2009 alone, overall exports of gem and jewellery from India stood at US$ 1221.43 million reflecting a fall of 34.57 percent in dollar terms, as compared to US$ 1866.74 million in the same period of the previous year. There was a decrease of 34.87 percent in dollar terms in exports of cut and polished diamonds, amounting to US$ 872.92 million, while in the same period last year it was US$ 1340.20 million.