India’s gross exports of polished diamonds are declining

May saw a fall in India‘s gross exports of polished diamonds, though it wasn’t as sharp as recent months.

Foreign sales totaled $1.72 billion, down 17.5% from the prior month. The annual fall in the value of the dollar was 38.9% in April and 33% in March. Due to exchange rates, the decreases were less pronounced in rupees.

In terms of carats, gross imports of rough grew dramatically in April and May, rising by almost 20% to 19.6 million, but the value decreased by 4.8 percent to $2.61 billion as a result of reduced pricing.

May saw a slight reduction in total gem and jewellery exports of little over 16% to $2.75 billion, compared to an almost 36% drop in April.

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