1. Home >
  2. Export Import News >
  3. SEZ >
  4. Surat: Export of cut and polished diamond in April-May decline 16% >
  5. Surat: Export of cut and polished diamond in April-May decline 16%

Online Export Import Data Search

Complete Training Video : Click Here

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
 Exim Help

What is New?

Date: 22-08-2019
Notification No. 07/2019-Central Excise
Seeks to extend the validity of 2% Basic Excise Duty on ATF drawn from RCS-UDAN airport or heliport or waterdrome.

Date: 21-08-2019
Notification No. 04/2019 Central Excise-NT
Implementation of Sabka Vishwas (Legacy Dispute Resolution)Scheme (SVLDRS), 2019

Date: 21-08-2019
Notification No. 05/2019 Central Excise-NT
Rules under SVLDRS, 2019.

Date: 20-08-2019
Notification No. 36/2019 – Central Tax
Seeks to extend the date from which the facility of blocking and unblocking of e-way bill facility as per the provision of Rule 138E of CGST Rules, 2017 shall be brought into force to 21.11.2019.

Date: 19-08-2019
PUBLIC NOTICE No. 26/2015-2020
TRQ quota for import of 30,000 MT of crude soya oil from Paraguay under India- Mercosur Trade Agreement is notified.

Date: 16-08-2019
A.P. (DIR Series) Circular No. 06
Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019 – Acceptance of Deposits by issue of Commercial Papers

Date: 14-08-2019
Notification No.60/2019 - Customs (N.T.)
Exchange Rates Notification No.60/2019-Custom(NT) dated 14.08.2019.

Date: 14-08-2019
Notification No. 61/2019-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 14-08-2019
PUBLIC NOTICE NO. 25/2015-2020
Modification of Para 4.12(vi) of HBP and addition of Appendix 4P to Hand Book of Procedures 2015-20 – reg.

Date: 13-08-2019
Notification No.59/2019 - Customs (N.T.)
Exchange Rates Notification No.59/2019-Custom(NT) dated 13.08.2019.

Exim Guru Copyright © 1999-2019 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.


C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001