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Informist, Friday, Dec. 13, 2024

 

MUMBAI – While India's net exports of gems and jewellery fell 14.6% on year in November to $1.62 billion, its imports rose 35% on year to $1.36 billion, according to data from the Gem and Jewellery Export Promotion Council. Exports of gems and jewellery on a gross basis dropped 12.9% to $1.99 billion in November.

 

In Apr-Nov, the country's net gems and jewellery exports were down 7.1% on year at $15.19 billion, while gross exports for the same period were down at $18.72 billion from $20.69 billion a year ago. India's imports during Apr-Nov fell 4.3% on year to $12.94 billion, the data showed.

 

India exported 797,000 carats of cut and polished diamonds in November, down from 1.27 million carats a year ago. Exports of cut and polished diamonds in Apr-Nov were 11.01 million carats, down from 12.61 million carats in the corresponding period last year.

 

The country's import of rough diamonds in November rose to 6.80 million carats from 3.32 million carats a year ago. Import of rough diamonds in Apr-Nov fell to 66.13 million carats from 75.11 million carats a year ago, the data showed.

 

Silver jewellery exports in November plunged 60.9% on year at $60.80 million, and exports of the same in Apr-Nov fell 27.5% to $714.03 million.

 

India imported gold bars worth $606.02 million in November, up 150.2% from a year ago, the data showed. Import of gold bars in Apr-Nov rose 47.2% to $2.45 billion. The country imported $36.11 million of gold jewellery in November, down from $44.11 million a year ago, while import of gold jewellery in Apr-Nov jumped up 103.8% to $833.23 million.

 

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

 

	Nov	Year-on-year Change	Apr-Nov	Year-on-year Change
EXPORTS	(million $)	(%)	(million $)	(%)
Cut, polished diamonds	666.01	(-) 39.81	8,980.20	(-) 18.88
Gold jewellery	1,132.68	40.57	7,102.01	8.97
Coloured gemstones	27.02	21.02	285.45	(-) 11.52
Silver jewellery	60.80	(-) 60.93	714.03	(-) 27.47
Total*	1,617.87	(-) 14.56	15,190.02	(-) 7.12
IMPORTS
Rough diamonds	531.96	68.99	6,960.41	(-) 20.97
Cut, polished diamonds	54.03	(-) 79.63	894.26	(-) 27.95
Gold bars	606.02	150.21	2,449.82	47.22
Gold jewellery	36.11	(-) 18.12	833.23	103.75
Total*	1,364.14	35.00	12,936.86	(-) 4.25

 

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

 

End

 

US$1 = INR 84.79

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

 

Reported by Sandeep Sinha

Edited by Deepshikha Bhardwaj

 

 

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