India’s Polished Trade Nearly Doubles in May, Yet to Close Pre-Crash GapJune 15, 10
In terms of volume, India exported 4.3 million carats in May, declining 19.2 percent compared to May 2009. The average value of gross exports is $419.09 per carat.
Polished diamond imports of $984.2 million were nearly double (97.4%) imports there year before. India imported 3.4 million carats at an average declared value of $292.66 p/c.
India, like the rest of the global diamond centers, is still recovering from the 2008-09 crash that caused a drastic drop in diamond sales. Israel and Belgium are in the same situation, with large year-over-year gains that demonstrate the recovery. However all three centers are yet to return to the same level of trading seen two years ago in the pre-crash period.