Gems and Jewellery Export Promotion Council (GJEPC) made a report and according to that data, about 25% to Rs.10,000 crore the polished diamond export from the country has increased and by 35% to Rs.6000 crore increased in gold jewellery in the month of December 2016. in December 2015, Rs.8000 crore and Rs.4400 respectively was the export of diamonds and gold jewellery.
In between April- December 2016, there was a 17% increase in total exports of polished diamonds. As on April-December2015, the diamond export of India was Rs.96,600 crore and in the same period in 2016, it went to a Rs.1,13,171 crore. From the US, China and the Middle East, there was an increase in demand for diamond jewellery, and this is the reason for higher exports from India.
Annually$21billion diamonds exports from India to the world. The sale of Indian polished diamonds In the last three months to the US increased from $1.3billion in the same quarter last year to $1.8billion. Due to Christmas and festive season, in the US the sale of diamond jewellery increased.
The new government in the US will have policies that will boost diamond sales from India further and it is expected by the Indian industry. Many small and medium diamond polishing units affected by the demonetisation of higher value currency notes by the Indian government and these are going to close due to cash crunch and fall in demand. It is also expected that in coming days, all things will normalise and then only the real figures will be reflected.
