GJEPC: India’s Gem and Jewelry Exports Decline in FY2024
Sun May 26 2024
India’s Gem & Jewelry Export Promotion Council (GJEPC) has published its monthly report on the country’s rough and polished diamond trade for April 2024, as well as data for the financial year for the industry, quoted by Rough & Polished
In April, India’s total gross exports of gems and jewelry dropped by 11.4% year-on-year, reaching $2.075 billion. Total gross imports for April rose to $1.891 billion, marking a year-on-year 3.9% increase. Polished diamond exports in April fell 16.8%, totaling $1.155 billion, while imports surged by 19.3% to $88.1 million.
Rough diamond imports for April totaled $1.191 billion, marking a 19.3% year-on-year decrease. Preliminary data indicates a significant 18.2% year-on-year fall in gross lab-grown diamond (LGD) exports for April 2024, dropping to $83.77 million.
For the fiscal year (April 2023 – March 2024), India saw a significant 14.5% fall in total gross exports of gems and jewelry, amounting to $32.3 billion. Likewise, total gross imports decreased by 13.8%, totaling $22.3 billion. Polished diamond exports for FY2024 declined 27.6% year-on-year, totaling $15.967 billion.
Source: https://en.israelidiamond.co.il/