Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Surat: Export of cut and polished diamond in April-May decline 16%.


Date: 11-06-2019
Subject: Surat: Export of cut and polished diamond in April-May decline 16%
SURAT: The export  of cut and polished diamond  in the first two months of the new fiscal year has registered a 16% decline following the dwindling demand and the sharp decrease in the polished diamond prices in the global market. 

According to the data released by Gems and Jewellery Export Promotion Council (GJEPC) on Monday, the overall export of cut and polished diamonds in April-May-2019 was at $3.5 billion compared to $4.2 billion during the same month in the previous year. However, the export of diamonds showed 1.4% increase in May at $94 million. 

Also, the export of cut and polished diamonds in April-May 2019 from Surat Special economic zone  (SurSEZ) recorded a decline of 49% at $9 million compared to $18 million in 2018. 

Sources said that the global market situation has turned to bad to worse for the diamond industry. The industry is still suffering the aftershocks of the sensational bank fraud committed by Nirav Modi and his uncle Mehul Choksi. 

“The export of cut and polished diamonds from Surat SEZ has declined 49%, which is a huge fall in the new fiscal year after the Nirav Modi scam was exposed,” said an office-bearer of GJEPC. 

He added, “The overall export of polished diamonds has been greatly impacted due to the dwindling demand, increase prices of rough diamonds and liquidity issue in the local market due to bank squeezing bank credit.” 

Source: timesofindia.indiatimes.com


Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 01-12-2022
Notification No. 101/2022 - Customs (N.T.)
Exchange rate Notification No. 101/2022-Cus (NT) dated 01.12.2022-reg

Date: 01-12-2022
Notification No. 40/2022-Central Excise
Seeks to amend No. 18/2022-Central Excise, dated the 19th July, 2022 to reduce the Special Additional Excise Duty on production of Petroleum Crude.

Date: 01-12-2022
Notification No. 41/2022-Central Excise
Seeks to further amend No. 04/2022-Central Excise, dated the 30th June, 2022, to reduce the Special Additional Excise Duty on Diesel.

Date: 01-12-2022
NOTIFICATION No. 04/2022-Central Excise (N.T.)
Appointment of the Commissioner of Central Excise and Service Tax (Appeals) as Central Excise officer for the entire territorial jurisdiction of the Principal Chief Commissioner/ Chief Commissioner of Central Excise and Service Tax for the purpose of passing Orders-in-Appeal for the CX & ST appeals filed after 30.06.2017-reg.

Date: 30-11-2022
Notification No. 100/2022-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 29-11-2022
No.98 /2022-Customs (N.T.)
Amendment of notification no. 47/2022–Customs (N.T.), dated the 31st May, 2022

Date: 29-11-2022
NOTIFICATION No. 99/2022-Customs (N.T.)
Amendment of notification number 48/2022-Customs (N.T.) dated the 31st May, 2022

Date: 25-11-2022
NOTIFICATION No. 61/2022-Customs
Seeks to amend certain specific FTA/PTA notifications.

Date: 23-11-2022
NOTIFICATIONNo. 23/2022 – Central Tax
Seeks to empower the Competition Commission of India to handle anti-profiteering cases under CGST Act, 2017 with effect from 01.12.2022.

Date: 23-11-2022
NOTIFICATION No. 24/2022 – Central Tax
Seeks to make fourth amendment (2022) to CGST Rules with effect from 01.12.2022.



Exim Guru Copyright © 1999-2022 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001