India is the world's largest producer of diamonds. 90% of the world's lapidary capacities and 80% of workers of different degrees of qualification (up to 1 million people) are located here. The state of the Indian diamond market is an important indicator of the global diamond economy, greatly shaken by the global economic crisis.

In recent years, India imports about 100 million carats of diamonds worth about 10 billion dollars a year. Statistics of the Indian Council for the Promotion of the Export of Gemstones and Jewelry (GJEPC) 1990-2005 shows that Belgium and England (the Antwerp diamond center and De Beers) remain the main suppliers of raw materials, accounting for 75% of the raw material flow. About 20% are provided by Israel, Hong Kong and the UAE. That is, the leaders of the Indian lapidary industry still prefer to purchase rough diamonds in the countries-intermediaries. Direct deliveries from Russia were insignificant. Negotiations on direct supplies from Africa (Botswana, Namibia, etc.) are conducted in a slow regime. However, over the past year, the interest of Indian diamantaires in relation to direct supplies of raw materials has increased significantly. This is evident from the increase in purchases in Moscow and Yakutsk.

The volume of polished exports is volatile. Volatility intensified during the acute phase of the crisis (autumn 2008 - summer 2009). Thus, the largest decline - by 40% - compared to the previous year was observed in January 2009. Until August 2009, there was a comparative decline in exports compared to 2008. And from September to December 2009, India's polished exports increased by 12-129% per month. In general, in 2009 polished exports amounted to $ 12 billion, which is 4.6% more than in 2008. In carats, the growth in exports grew even more, reaching + 18%. The main export direction in 2009 was Hong Kong, pushing the United States. So, if in 1997 the volume of exports there amounted to Rs 25 billion, now it is equal to Rs 180 billion, that is, for 13 years the export to Hong Kong grew by 7 times. Obviously, Hong Kong is not the final buyer, but a convenient transit point. India is also making vigorous efforts to penetrate new markets - Russia and the Middle East. However, access to the Russian market is blocked by a 20% import duty.

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