In July 2015, India’s exports of cut and polished diamonds slipped 18.34 percent to US$ 1,512.74 million on y-o-y basis (US$ 1852.48 million in July 2014), reports say. The volume of the said exports also dipped, with a 14.40 percent drop to 2.80 million carats from 3.26 million in the corresponding month of last year. Import of cut and polished diamonds declined 55.77 percent to US$ 266.87million.

Import of rough diamonds dropped 42.9 percent to US$ 1,092.76 million (US$ 1,912.46 million in July 2014). In volume terms said imports dropped 40 percent to 9.36 million carats (15.59 million carats in July 2014).

The overall gem and jewellery gross exports reflected a 0.94 percent drop (on y-o-y basis) valuing it at US$ 2,898.91 million. The gross imports of gems and jewellery decreased 29.75 percent (on y-o-y basis) to US$ 2,272.78 million.

Gold jewellery (plain and studded) exports fell 14.67 percent to US$ 523.42 million. Silver jewellery exports rose 71 percent and coloured gemstone exports dropped 16 percent, reports add.