India’s exports of polished diamonds dipped 41 per cent in February as the spread of Covid-19 continues to devastate global businesses.

Data from the Gem & Jewellery Export Promotion Council (GJEPC) showed that shipments of cut and polished diamonds fell to US$1.38 billion during the period in review from US$2.34 billion a year ago. 

Some sectors however registered growth – gold jewellery exports increased 31 per cent to US$1.2 billion from US$920.35 million in February 2019 while polished lab-grown diamonds rose to US$37.05 million from US$ 23.35 million a year earlier.

Among the best performers were silver jewellery shipments, which went up 202.7 per cent to US$236.15 million from US$78.02 million in 2019.

Polished coloured gemstone exports meanwhile were down 64.45 per cent year on year to US$17.34 million from US$48.79 million while rough diamonds slid to US$76.56 million from US$124.06 million a year ago.

India also imported more rough diamonds during the period in review, recording a 6.34 per cent rise to US$1.47 billion, GJEPC data further revealed.

Imports of cut and polished diamonds were also on the upswing at US$249.22 million, up 166.3 per cent from US$93.58 million in February 2019.

Rough lab-grown diamond imports grew 171 per cent to US$25.47 million from US$9.4 million last year while polished lab-grown diamonds saw a 53.34 per cent decline to US$6.04 million in February.