India’s Rough Diamond Imports Continue to Rise While Exports Decline

The strong rough diamond trading of the past few months is reflected in the sharp jump in India’s rough diamond imports. The country imported $607.77 million worth of rough in October, shooting up 33.5 percent compared to its imports in October 2008.

India imported 10.38 million carats of rough diamonds during the month, rising 11.7 percent year-over-year.

Rough diamond exports declined to $51.97 million from the $86.76 million exported a year ago. In volume, exports declined to 1.63 million carats from 3.54 million carats exported in October 2008.

Month-over-month, imports declined by 11.9 percent while exports fell 29.1 percent compared to September.

It should be noted that these are declines in growth, not a decline in business. In September, India’s rough diamond intake shot up by 83 percent.