India’s exports of polished diamonds declined in June, with overseas shipments down 23 percent year-on-year to $779 million, according to data from the Gems and Jewellery Export Promotion Council (GJEPC).
The figures point to ongoing cautious demand in key international markets, including the US and China.
Monthly and Yearly Comparisons
June’s results represent a smaller decline than the previous month. In May, exports fell 35.5 percent to $950 million compared to $1.47 billion a year earlier. The data continues a pattern of reduced export activity observed since 2022.
For the 2024/25 fiscal year to date, polished diamond exports have decreased 16.8 percent to $13.3 billion, reaching the lowest value reported in nearly two decades.
Performance by Segment
The diamond segment recorded a sharper decline than the wider gem and jewellery sector, which saw a fall in revenue of just over 14 percent for the same period. Imports of rough diamonds dropped by 5 percent from April to June, indicating a more limited adjustment on the supply side.
This difference suggests a degree of supply and demand misalignment, with some signs of elevated stock levels in the manufacturing sector.
Considerations for the Trade
The recent figures reflect a period of subdued activity in key global markets. For professional jewellers, these trends may inform sourcing and inventory planning ahead of upcoming trading periods. Further changes in rough supply or manufacturing levels may continue to influence availability and pricing across the pipeline.
