India's exports of cut and polished diamonds trended upward during the first six months (April-September 2016) of fiscal year 2017, rising by 10.71% to $11.20 bn, according to the provisional data released by The Gem & Jewellery Export Promotion Council (GJEPC). During the fiscal year to date, imports of rough diamonds rose to $8.85 bn, an increase of 27.20%. In volume terms, imports rose 15.13% from 63.18 million carats in April-September 2015 to 72.74m carats during the same period in 2016. For the month of September 2016, exports of cut and polished diamonds rose by 30.31% year-on-year. India exported $2.50 billion worth of goods as compared to the $1.92b in the same month a year ago.
Meanwhile, rough diamond imports during the month of September were up 71.25% in value terms, climbing from $1.05 billion in 2015 to $1.80 billion this year. In volume terms, India imported 14.43 million carats of rough during the month, a 16.9% increase compared to imports of 12.34 mn carats during September ‘15. Imports of cut and polished diamonds were down 21.41% to $184.55 million in September 2016 from $234.83 million a year earlier.