India Trade Slumps Amid Global Shutdown

RAPAPORT... India's diamond shipments plummeted in May, according to data from the country's Gem & Jewellery Export Promotion Council (GJEPC), continuing the decline resulting from the coronavirus crisis.Rough imports and polished exports were essentially zero in April, Rapaport calculations showed, as cargo routes stopped and global demand nosedived. Trading picked up in May as the Indian diamond sector reopened and US and Chinese retail markets improved, but figures were still significantly down compared with a year earlier.All the year-on-year figures for May are on a "same ports" basis, meaning the comparative amounts for May 2019 exclude shipments at ports for which numbers were unavailable in May 2020.

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