Mumbai: India’s diamond trading gained traction in March, according to data from the Gem & Jewellery Export Promotion Council (GJEPC).
Polished exports for the month increased 2.4% to $1.87 billion year on year, the data showed. Polished imports jumped 11% to $289.3 million, leaving net polished exports 1% higher at $1.58 billion. By volume, polished exports slid 13% to 3.1 million carats, while the average price leapt 18% to $610 per carat.
Rough imports, meanwhile, increased 15% to $1.6 billion. Those numbers reflected a buoyant rough market, as seen in the strong sales growth that miners De Beers and Alrosa reported during the period. India’s rough exports increased 18% to $184.7 million, while net rough imports advanced 14% to $1.41 billion.
The country’s net diamond account for March, calculated as total rough and polished exports minus total imports, contracted 49% to $165.9 million.
