India Rough Imports Shrink, but Exports Rise

Rough diamond imports to India declined in October while exports rose, according to provisional data released by the Gem & Jewllery Exports Promotion Council Thursday.

Imports of rough diamonds dropped 37 percent to $469.7 million on imports of 9.28 million carats, an average value of $50.59 per carat. The volume of imports fell 34.3 percent from a year ago.

Rough diamond imports, however, increased in October to $91.4 million compared to $46.4 million the year before, a 79.3 percent leap in value. By volume, India exported 3.53 million carats compared to 3.03 million carats in October 2007 - a 16.8 percent year-over-year increase.