Informist, Wednesday, Nov. 13, 2024
MUMBAI – India's gems and jewellery exports on a net basis rose 19.3% on year in October to $2.56 billion, while net imports fell 14.7% on year to $1.49 billion, according to data from the Gem and Jewellery Export Promotion Council. Export of gems and jewellery on a gross basis rose 9.2% to $3 billion in October.
In the Apr-Oct period, the country's net gems and jewellery exports were down 6.1% on year at $13.42 billion, while gross exports for the same period were down at $16.58 billion from $18.24 billion a year ago. India's imports during Apr-Oct fell 7.7% on year to $11.48 billion, the data showed.
India exported 1.74 million carats of cut and polished diamonds in October, up from 1.50 million carats a year ago. Exports of cut and polished diamonds in Apr-Oct were 10.21 million carats, down from 11.33 million carats in the corresponding period last year.
The country's import of rough diamonds in October fell to 7.31 million carats from 8.82 million carats a year ago. Import of rough diamonds in Apr-Oct fell to 59.33 million carats from 71.79 million carats a year ago, the data showed.
Silvery jewellery exports in October were down 35.8% on year at $141.11 million, and exports of the same in Apr-Oct fell 21.3% to $649.56 million.
India imported gold bars worth $353.08 million in October, up 35.1% from a year ago, the data showed. Import of gold bars in Apr-Oct rose 29.2% to $1.76 billion. The country imported $56.79 million of gold jewellery in October, up from $53.17 million a year ago, while import of gold jewellery in Apr-Oct jumped up 118.5% to $797.09 million.
The following table details India's exports and imports of gems and jewellery in October and Apr-Oct, in dollar terms, and the percentage change since the year-ago period, as detailed by the Gem and Jewellery Export Promotion Council:
|
Oct |
Year-on-year Change |
Apr-Oct |
Year-on-year Change |
|
|
EXPORTS |
(million $) |
(%) |
(million $) |
(%) |
|
Cut, polished diamonds |
1,403.59 |
11.32 |
8,313.86 |
(-) 16.56 |
|
Gold jewellery |
1,124.52 |
8.80 |
5,874.24 |
5.73 |
|
Coloured gemstones |
23.41 |
(-) 17.60 |
258.31 |
(-) 13.97 |
|
Silver jewellery |
141.11 |
(-) 35.83 |
649.56 |
(-) 21.30 |
|
Total* |
2,561.99 |
19.30 |
13,421.77 |
(-) 6.12 |
|
IMPORTS |
||||
|
Rough diamonds |
665.72 |
(-) 35.35 |
6,428.44 |
(-) 24.30 |
|
Cut, polished diamonds |
205.91 |
4.79 |
834.81 |
(-) 14.45 |
|
Gold bars |
353.08 |
35.09 |
1,757.54 |
29.23 |
|
Gold jewellery |
56.79 |
6.82 |
797.09 |
118.48 |
|
Total* |
1,486.53 |
(-) 14.65 |
11,476.33 |
(-) 7.74 |
* Total may not tally as some minor items have not been included, or some consignments may have been returned.
End
US$1 = INR 84.40
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Sandeep Sinha
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
Share this Story:
