Pearls imports treble; import-export gap in case of diamonds shrinks

The declining net exports of pearls, stones and diamonds, along with the reducing trend of exports of studded jewellery point to a gradual rise in domestic consumption of gems and jewellery in India

Imports of raw pearls and stones have grown four times during 2012-13 to 2017-18, while exports have declined to around half. As a result, a near-about balanced pearls and stones trade in 2012-13 has transformed into net imports of around $3 billion in 2017-18 till December, according to data from the commerce ministry.
 
In case of diamonds, too, the gap between export of cut and polished diamonds and import of rough diamonds has been narrowing. The value of imports was about 70 per cent of the value of exports in 2012-13, which rose to 80 per cent in 2017-18,