RAPAPORT… India’s cut and polished diamond exports grew 31 percent to $1.038 billion in June 2007, The Gem & Jewellery Export Promotion Council (GJEPC) reported. Cut and Polished imports surged 135 percent to $378.21 million during the month.India’s net polished exports (polished exports less imports) increased 4.8 percent to $659.96 million.Rough diamond imports in June rose 36 percent to $946.15 million while rough exports dropped 9 percent to $46.24 million. The country’s net rough imports (rough imports minus exports) grew 39 percent to $899.91 million.India’s net diamond account (net polished exports less net rough imports) moved into the red in June 2007 at $239.96 million, after a positive $17.26 million in June 2006.Provisional data for the 2007 calendar year to date show that India’s polished exports grew 8 percent to $5.9 billion, while polished imports rose 79 percent to $1.24 billion. Net polished exports declined 2.3 percent to $4.72 billion.
Rough diamond imports for the year grew 14 percent to $4.7 billion, and rough exports increased 8 percent to $237.45 million. India’s net rough imports rose 14 percent to $4.47 billion. The country’s net diamond account for January through June therefore was in the red by $248.38 million or 73 percent more so in negative territory than one year ago.
India’s total gem and jewelry exports grew 35 percent to 1.57 billion in June, while total imports rose 59 percent to $1.51 billion.
Gold jewelry exports jumped 42.2 percent to $423.92 million in May, while imports rose 42.9 percent to $38.53 million.
Among India’s other jewelry categories, exports of colored gemstones rose 15.9 percent to $13.92 million, while pearl exports increased 128 percent to $280,000. Exports of non-gold jewelry surged 345 percent to $49.33 million during the month, and synthetic stones declined 69.74 percent to $20,000.
