|February saw a small, but long-awaited increase in India's cut and polished diamond exports, when compared with the same period in 2015, reports the Gem & Jewellery Export Promotion Council (GJEPC).
After a sustained period of low demand, the GJEPC's data show February's cut and polished diamond exports reached US$2.337 billion - more than doubling when compared with a month earlier - and show a 1.93 percent rise compared with US$2.293 billion exported in February 2015. In volume terms, 3.2 million carats were exported in February 2016, an 8 percent improvement compared with 3.03 million carats of cut and polished diamonds exported in February last year.
Gold jewelry exports during the month were up by 74.43 percent to US$844.59 million as against US$484.2 million a year earlier, reports GJEPC.
Net exports from the gem and jewelry sector during February 2016 reached US$3.47 billion, a modest growth of 6.83 percent compared with exports of US$3.25 billion in February 2015.
Rough diamond imports for February reached US$1.55 billion, up by 37.07 percent in value terms from US$1.13 billion in February 2015. In volume terms, 15.6 million carats of rough were imported during February, a rise of 16.5 percent compared with the imports of 11.39 million carats during February 2015.
Imports of cut and polished diamonds in February fell by 45 percent to US$222.11 million from US$405.28 million a year earlier, but showed a 12.5 percent improvement when compared with January 2016.