India's Net Rough Diamond Imports $10.9 Billion in Past Year

(IDEX Online News) - India's gross imports of rough diamonds in fiscal 2010-2011 increased 31.2% to $11.93 billion, according to provisional figures released by the GJEPC. The volume of imports, 153.99 million carats, grew by just 2.8%.

The stark difference between the rise in value and volume is a result of soaring rough diamond prices over the past year. According to these figures, the average per carat price increased over the year by 28.3% from $ 60.37 p/c to $77.47 p/c.

The country exported 30.748 million carats of rough diamonds worth $1.08 billion during the fiscal year, a 25.3% increase in volume and a 45.5% increase in the value of rough exports.

This left net rough diamond imports at $10.85 billion in the period.