More Stories

Informist, Friday, Aug 16, 2024

 

MUMBAI – India's net exports of gems and jewellery in July fell 19.3% on year to $1.36 bln, while imports dropped 16.6% to $1.40 bln, according to data from the Gem and Jewellery Export Promotion Council. Gross exports fell 23.3% on year to $1.67 bln last month.

 

Net exports of gems and jewellery in Apr-Jul fell 8.5% on year to $6.82 bln and gross exports fell 11% on year to $8.59 bln. Imports fell 1.5% to $6.89 bln in the same period.

 

India exported 1.24 mln carats of cut and polished diamonds in July, down from 1.56 mln carats a year ago. Exports of cut and polished diamonds in Apr-Jul fell to 5.61 mln carats from 6.27 mln carats in the corresponding period last year.

 

Imports of rough diamonds in July fell to 7.81 mln carats from 11.34 mln carats a year ago. Imports of rough diamonds in Apr-Jul slipped to 37.67 mln carats from 43.03 mln carats in the corresponding period a year ago.

 

Exports of silver jewellery tumbled 59.7% on year to $45.09 mln in July. Silver jewellery shipments in Apr-Jul were down 14.1% on year at $279.06 mln.

 

India imported gold bars worth $48.22 mln in July, down 62.9% from $129.96 mln a year ago, the data showed. Gold jewellery imports in July fell 59% on year to $30.09 mln from $73.42 mln in the year-ago period. India imported gold bars worth $741.75 mln in Apr-Jul, up 37.3% on year. Gold jewellery imports in Apr-Jul climbed 154.9% to $627.81 mln.

 

The following table details India's exports and imports of gems and jewellery in July and Apr-Jul, in dollar terms, and the percentage change since the year-ago period, as detailed by the Gem & Jewellery Export Promotion Council:

 

	Jul	YR-ON-YR CHANGE	Apr-Jul	YR-ON-YR CHANGE
EXPORTS	(mln $)	(%)	(mln $)	(%)
Cut, polished diamonds	907.67	(-) 22.71	4,579.53	(-) 19.20
Gold jewellery	530.38	(-) 12.06	2,794.01	6.15
Coloured gemstones	22.53	(-) 8.73	114.41	(-) 25.10
Silver jewellery	45.09	(-) 59.70	279.06	14.11
Total*	1,358.93	(-) 19.32	6,822.87	(-) 8.53
IMPORTS
Rough diamonds	913.20	(-) 17.18	4,305.66	(-) 15.78
Cut, polished diamonds	81.94	(-) 50.65	385.79	(-) 13.61
Gold bars	48.22	(-) 62.90	741.75	37.27
Gold jewellery	30.09	(-) 59.01	627.81	154.90
Total*	1,404.62	(-) 16.59	6,893.53	(-) 1.46

 

* Total may not tally as some minor items have not been included, or some consignments may have been returned.

 

End

US$1 = 83.94 rupees

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Sandeep Sinha

Edited by Tanima Banerjee

 

 

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.