India achieved an increase of 12.9% in its gem exports while the jewellery exports increased by 21.6%, both during the first quarter of 2007.

Amongst the export of gems, polished diamonds increased to $2.411 billion in the said period, as compared to $2.162 billion during the same quarter of 2006. In contrast the export of rough diamonds dipped to $107.116 million in the quarter as compared to $118.432 million during the same period of last year, a 9.55% decline.

Imports on the other hand increased for rough diamonds in India, being valued at $2.087 billion during the quarter of 2007 as compared to $1.970 billion of the first quarter of last year. The rise in gold prices has escalated the price of gems and jewellery.