Downward Trend
India Sept gems, jewellery exports down 17% on year at $1.88 bln
This story was originally published at 21:13 IST on 21 October 2024
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MUMBAI – India's net exports of gems and jewellery in September fell 17.1% on year to $1.88 billion, while imports dropped 6.4% on year to $1.47 billion, according to data from the Gem and Jewellery Export Promotion Council. Gross exports of gems and jewellery in September fell 15.9% to $2.54 billion.
The country's net exports of gems and jewellery in Apr-Sept were down 10.8% on year at $10.68 billion, while gross exports for the same period were at $13.40 billion, down from $15.31 billion a year ago. India's imports in Apr-Sept fell 6.8% on year to $9.93 billion, the data showed.
India exported 1.53 million carats of cut and polished diamonds in September, down from 1.85 million carats a year ago. Exports of cut and polished diamonds in Apr-Sept were 8.48 million carats, down from 9.84 million carats in the corresponding period last year.
The country's imports of rough diamonds in September rose to 8.78 million carats from 7.92 million carats a year ago. Imports of rough diamonds in Apr-Sept fell to 52.03 million carats from 62.97 million carats a year ago, the data showed.
Silvery jewellery exports in September were down 15.5% on year at $126.95 million, while exports of the same in Apr-Sept fell 16.2% to $504.44 million.
India imported gold bars worth $267.11 million in September, up 39.8% from a year ago, the data showed. Imports of gold bars in Apr-Sept rose 27.7% to $1.34 billion. The country imported $45.83 million of gold jewellery in September, up from $32.40 million a year ago, while imports of gold jewellery in Apr-Sept jumped 137.5% to $740.29 million.
The following table details India's exports and imports of gems and jewellery in September and Apr-Sept, in dollar terms, and the percentage change since the year-ago period, as detailed by the Gem and Jewellery Export Promotion Council:
| Sept | Year-on-year Change | Apr-Sept | Year-on-year Change | |
|---|---|---|---|---|
| EXPORTS | (million $) | (%) | (million $) | (%) |
| Cut, polished diamonds | 1,290.89 | (-) 22.87 | 6,909.61 | (-) 20.60 |
| Gold jewellery | 894.23 | 1.28 | 4,579.55 | 5.13 |
| Coloured gemstones | 77.59 | 2.81 | 234.83 | (-) 13.56 |
| Silver jewellery | 126.95 | (-) 15.53 | 504.44 | (-)16.21 |
| Total* | 1,883.27 | (-) 17.05 | 10,675.85 | (-) 10.78 |
| IMPORTS | ||||
| Rough diamonds | 778.61 | (-) 24.62 | 5,762.72 | (-) 22.78 |
| Cut, polished diamonds | 126.30 | (-) 20.11 | 628.90 | (-) 19.31 |
| Gold bars | 267.11 | 39.80 | 1,340.79 | 27.72 |
| Gold jewellery | 45.83 | 41.43 | 740.29 | 137.53 |
| Total* | 1,470.04 | (-)6.35 | 9,926.13 | (-)6.78 |
* Total may not tally as some minor items have not been included, or some consignments may have been returned.
End
US$1 = INR 84.07
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Shreya Shetty
Edited by Avishek Dutta
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