MUMBAI: Export and import of gems and jewellery items by India have seen a major slump in April, according to figures released by India's Gem and Jewellery Export Promotion Council.
According to provisional figures of import of gems and jewellery revealed by GJEPC for the month of April 2009, as compared to same period last year, the total imports have declined by 28.85 percent.
India imported rough diamonds worth Rs 2342.58 crores in April 2009 as compared to Rs 4035.36 crores last year, taking the figures down to 41.95 percent.
Cut & polished diamonds worth Rs 2188.94 crores were imported in April 2009, as compared to Rs 2659.08 crores in April 2008. These figures show a low of 17.68 percent in the imports of these two years.
However, gold bars have shown a rise of 24.38 percent. Gold bars worth Rs 640.13 crores have been imported in April 2009 as compared to Rs 514.66 crores last year.
The total imports have gone down by 28.85 percent as compared to April 2008. Last year, the imports were Rs 7582.88 crores as compared to Rs 5395.01 crores in April 2009.
The provisional figures of export of gems and jewellery items, during April 2009, has also been released by the GJEPC. The total exports, as compared to the same period last year, have gone down by 17.10 percent.
Export of cut and polished diamonds stand at Rs 3847.36 crores in April 2009, whereas in April 2008 it was Rs 5012.07 crores. It has declined by 23.24 percent.
Total gold jewellery exports by India in April 2009 was Rs 1513.17 crores as compared to Rs 1379.05 crores in April 2008, taking it to a high of 9.73 percent.
In totality, the April 2009 exports stand at Rs 5749.56 crores against Rs 6935.27 crores last year, thus declining by 17.10 percent.
Source : Commodityonline