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The Polished-diamond consignments moving out of India have shown a rise in the month of January, as per the data from the Gem & Jewellery Export Promotion Council (GJEPC). Gem Jewellery Export Promotion Council is an Apex body of India supported by the ministry of commerce and industry.
The export of polished diamonds climbed by 29% when seen on a year on year and reached to $2.08 billion. When seen by volume, the exports rose by 20% reaching to 2.7 million carats. The average price of polished diamonds increased 7% and became $766 per carat.
The imports of polished diamonds saw a fall of 21% making the figures reach $136 million. The net export is the difference between the diamond export and import. The net polished diamond export increased by 35% and attained a figure of $1.95 billion.
A 14% increase was seen in rough diamond imports in the same period reaching to $1.44 billion. However, the rough diamond exports fell by 29% to $105 million. The net rough diamond imports saw a rise of 19% to $1.33 billion.
The net diamond account is the polished diamond exports minus the rough diamond imports. India’s net diamond account increased by a whopping 87% reaching to a figure of $615.4 million.