INDIAN DIAMONDS INDUSTRY:

UNDISPUTED WORLD LEADER

 

Diamond exports represent the lion's share of the country's gems and jewellery exports. About 80% of the gems and jewellery exports from India are cut and polished diamonds. The share of gems and jewellery in India's total exports spurted from 2.9% in 1970-71 to 18.2% in 1998-99. The exports of diamonds were nominal at Rs. 2 crore in 1960-61, which increased to Rs. 22 crore in 1966-67 and to the mind-boggling figure of over Rs. 20,000 crore in 1998-99. Helpful Government policies and the entrepreneurship of the country's diamantaires helped diamond exports to emerge as the largest export commodity group within a matter of four decades.

 

India today occupies the No. 1 position in importing, processing and exporting diamonds. India accounts for over 70% of the world exports of cut and polished diamonds in caratage. In other words, roughly 7 out of every 10 diamonds set in jewellery world-wide are from India.

 

Of the total world exports of 27.25 million carats of cut and polished diamonds, India dominated with 19.21 million carats in 1995-96. In terms of value, India with an export of US$ 4.7 billion accounted for 44% of the world diamond exports of US$ 10.8 billion in 1995-96. The share in value terms has risen to about 50% in 1998-99.

 

 

Table 3: Exports of Cut and Polished Diamonds from India To Major Markets

(US $ In Million)

 

 

 

 

 

 

 

Description

1990-91

1995-96

2000-01

2003-04

2004-05

U.S.A.

834.32

1363.00

2144.33

2553.88

2584.76

Hong Kong

366.49

1161.51

1669.97

2436.52

3042.11

Belgium

 

730.52

908.22

1038.23

1261.53

Japan

530.40

707.91

375.05

401.57

468.64

Israel

50.71

147.27

268.32

576.03

700.61

Thailand

97.96

219.35

179.36

200.41

263.10

Switzerland

66.10

61.93

110.65

236.28

162.58

U.A.E.

 

13.98

258.62

795.79

1845.49

Singapore

31.82

82.16

101.93

171.73

580.97

Germany

34.92

36.60

36.06

34.39

44.35

U.K

24.67

26.50

39.46

75.16

60.87

Australia

 

18.00

22.63

49.31

56.96

Others

79.87

93.16

72.10

58.18

109.51

 

 

 

 

 

 

Total

2641.01

4661.90

6186.70

8627.48

11181.48

 

 

Table - 4: Diamond Export/Import Trade of India

(US $ In Million)

 

 

Description

1990-91

1995-96

2000-01

2003-04

2004-05

Exports of Polished Diamonds

2641

4662

6187

8627

11181

Imports of Rough Diamonds

1975

3274

4350

7141

7595

Value Addition

666

1388

1837

1486

3586

Value Addition (as % of Imports)

34

42

42

21

47

 

 

 

Table - 5: Import of Rough Diamonds from Major Suppliers to India

(US $ In Million & %)

 

 

 

 

 

 

 

 

 

Major Rough Diamond Markets

1990-91

1995-96

2000-01

2003-04

2004-05

 

 

 

 

 

 

 

 

 

 

Belgium

1237.60

2088.43

2535.68

3924.97

4321.28

 

 

Share in Indias Imports%

62.66

63.79

58.29

54.96

56.90

 

 

 

 

 

 

 

 

 

 

U.K.

636.92

866.32

1130.27

1699.46

1736.99

 

 

Share in Indias Imports%

32.25

26.46

25.98

23.80

22.87

 

 

 

 

 

 

 

 

 

 

Israel

72.96

174.37

310.37

483.33

584.02

 

 

Share in Indias Imports%

3.69

5.33

7.13

6.77

7.69

 

 

 

 

 

 

 

 

 

 

U.A.E.

NA

0.63

167.81

369.17

214.96

 

 

Share in Indias Imports%

NA

0.02

3.86

5.17

2.83

 

 

 

 

 

 

 

 

 

 

HongKong

0.41

138.41

323.18

397.65

385.21

 

 

Share in Indias Imports%

0.02

4.23

7.43

5.57

5.07

 

 

 

 

 

 

 

 

 

 

U.S.A.

13.61

8.27

17.55

24.71

36.71

 

 

Share in Indias Imports%

0.69

0.25

0.40

0.35

0.48

 

 

 

 

 

 

 

 

 

 

Switzerland

0.26

-

12.25

150.58

72.75

 

 

Share in Indias Imports%

0.01

-

0.28

2.11

0.96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACKNOWLEDGEMENTS:

FINANCEMAN ASSOCIATES acknowledges the use of various printed and electronic media for compiling the content, ideas and statistics on the gems and jewellery industry presented on this web page. We at FINANCEMAN ASSOCIATES are thankful to the industry leaders, their spokesmen, commentators in the media and experts in diamonds processing and jewellery manufacture and, specifically the Gem & Jewellery Export Promotion Council, Mumbai, for the use of published text and statistics that are in the public domain. The place of jurisdiction concerning all issues presented on this Web Page by FINANCEMAN ASSOCIATES shall be Mumbai, Maharashtra, India.

Copy Right 2007 FINANCEMAN ASSOCIATES

 

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