For the Indian gem and jewellery industry, its polished exports did not gain much enthusiasm in June 2011. Polished diamond exports was up just 1 percent to (y-o-y) to $2.22 billion, and in volume terms was flat at 5.119 million carats. Also the average price of the goods grew 1 percent to $434.26 per carat.

But imports of ;polished diamonds rose 20 percent y-o-y to $1.76 billion. Net polished exports (excess of exports over imports) was down by 36 percent to $462.1 million.

The imports of rough diamonds increased 38 percent to $1.59 billion, and in volume terms dropped 15 percent to 13.6 million carats, in which the average price increased 62 percent to $116.86 per carat. Exports of rough diamonds surged 66 percent to $151.3 million. Net rough exports (excess of imports over exports) was up 36 percent to $1.44 billion.

The country’s net diamond account in the month dropped to a deficit of $975.8 million (deficit of $336.9 million in June 2010).