India’s Polished Diamond Exports See September Dip, Slight Improvement Over August

India’s exports of polished diamonds continued to face challenges in September, recording a 22.9 percent decline compared to the same month last year, as reported by the Gem and Jewellery Export Promotion Council (GJEPC). This marks a modest improvement over August, which saw a year-on-year drop of 23.8 percent

Published on:

05 Nov 2024, 6:27 am

From April to September, total foreign sales showed a 20.6 percent decrease (all figures are in US dollars), underscoring the ongoing pressure on the industry.

However, monthly sales figures offer a different perspective. In September, total exports reached $1.29 billion, an increase from $1.04 billion in August and $908 million in July, reflecting some resilience amid the downturn.

In the broader gems jewellery sector, gross exports amounted to $2.54 billion for September, representing a 15.9 percent year-on-year decline (compared to 22.9 percent for polished diamonds).

Exports of polished lab-grown diamonds—a small but growing segment—also saw a decrease, down 16.5 percent to $111 million. This reflects the overall slowdown across various diamond categories, as the industry navigates changing global demands and economic pressures.