|India's Gem & Jewellery Export Promotion Council's provisional statistical data for the period April-December 2016 (GJEPC) shows a 22.51 percent rise in cut and polished diamond exports during December 2016, which totaled US$1.48 billion for the month, compared with US$1.2 billion exported in December 2015. During the first nine months of the 2016-17 fiscal year to date, exports of cut and polished diamonds reportedly have risen by 13.06 percent to US$16.88 billion.
Gold jewelry exports during the month were up by 32.45 percent to US$877 million as against US$662 million a year earlier, reports GJEPC.
Overall net exports from the gem and jewelry sector during December 2016 stood at US$2.61 billion, 20.49 percent higher than December 2015. The sector's net exports during the first nine months of fiscal 2016-17 are reported at US$26.23 billion, a rise of 10.05 percent compared with the similar previous fiscal year period.
Net rough diamond imports for December reached US$1.4 billion, down 4.69 percent in value terms from US$1.47 billion the previous December. In volume terms, 10.845 million carats of rough were imported during December, a drop of almost 28 percent compared with the imports of 15.049 million carats during December 2015. For the first nine months of fiscal 2016-17 rough diamond imports reached US$12.69 billion, 25 percent higher compared with the similar previous fiscal period.
Imports of cut and polished diamonds in December dropped 14.1 percent to US$205.35 million in December 2016 from US$239.06 million a year earlier. Cut and polished diamond imports were also down by 3.77 percent for the first nine months of fiscal 2016-17, reaching a total of US$2.01 billion for the period, compared with US$2.09 billion in the similar previous fiscal period.India's Economic Times reports that GJEPC Chairman Praveen Shankar Pandya told the news source that the organization expects to see "...close to 10 per cent growth in the gems and jewellery exports led by polished diamonds", as markets are slowly improving, particularly the U.S. and Europe.