India is World’s Top Rough Diamonds Importer

diamondsIndia tops the list as world’s #1 importer for 2012, passing the European Community with 26 Million Cts more, with a total of nearly 152 Million Cts imported for the calendar year. With roughly 34.5 Million Cts exported for the same year, India has a trading deficit of about 117.5 Million Cts.

The trend we are observing is that Countries of the European Communities still import a massive amount of rough diamonds, however, these European Countries are exporting a bit more than their imports. In the case of India, however, the situation is very different, India is accumulating a massive amount of diamonds, and exporting a fraction of what them import.

These 2 distinct trends are an indicator of the large consumer market in India as well as the increasing purchasing power the Indian People have compared to a couple of decades ago.