Surat's polished diamond exports rose for first time since pandemic in December

By

Isabelle Crossley

Published
Jan 18, 2021

After the coronavirus pandemic took a sizeable toll on the diamond polishing industry in Surat, December 2020 saw polished diamond exports increase significantly, giving the sector a much needed boost.

 
Total polished diamond exports rose by 41% year-on-year in December last year, to total Rs 12,692 crore ($1.9 billion), compared to Rs 8,000 crore in December 2019, TNN reported, citing data from the Gem and Jewellery Export Promotion Council.

As this is the first time since the pandemic began that exports have increased year-on-year, it has given the sector a boost in confidence. 

The diamond industry in Surat was especially hard-hit by the pandemic as many workers fell ill and polishing units had to be closed. However, while polished diamond exports decreased by around 30% from April to November, 2020, they increased by 158% towards the end of 2020. 
 
The increase in exports was fuelled by the holiday seasons in the U.S. and China; two of the main destinations for India’s exported polished diamonds. Diminished social distancing regulations in India and the resumption of a number of large-scale jewellery trade shows has also contributed to the rise in exports. 
 
“There is a steady demand from Hong Kong and China,” said the GJEPC’s chairman, Colin Shah, hopeful for continued recovery, TNN reported.