India for four months of the fiscal year 2016-2017 (April-July) increased its imports of bank gold for the jewelry industry by 39.55% in value to $1.720 billion, according to the Indian Gem & Jewelry Export Promotion Council (GJEPC). Imports of gold jewelry fell by 22.5% down to $81.24 million, silver bars - grew by 35% up to $15.6 million. Rough diamond imports grew by 13.3% up to $5.997 billion, faceted diamonds - by 5.3% to $997 million. At the same time, exports of gold jewelry rose by 18.65% up to $2.97 billion, the export of silver jewelry - by 51% up to $1.308 billion. Exports of gold coins and medallions fell by 9.5% down to $1.479 billion in April-July. Exports of polished diamonds in the period amounted to $7.253 billion, which is higher than the same period of the previous fiscal year by 5.2%, of rough diamonds - by 15.7% to $453.3 million. According to the results of 2015-2016 fiscal years, India has reduced imports of bank gold for the jewelry industry by 23.9% down to $4.068 billion.
Source: Uncommercial joint ownership "Trans-regional Association of precious metals producers"