08-Oct-2024
Key Highlights
Based on diamond exporter data, India's export value of cut and polished diamonds was 15.97 billion US dollars in the fiscal year 2024.
According to diamond export data, India exported 3,742,248 shipments of diamonds between March 2023 and February 2024 (TTM).
India is the biggest diamond exporter in the world, with an export value of US$18.2 billion.
The top diamond exporters in India are Sanghvi & Sons, Rosy Blue, K.C. Gems, Sarvada Diamonds, and Padmavati Creations.
Diamonds are often seen as the ultimate symbol of love and are considered the most precious stones in the world. Since nearly all of the known diamonds in the world were first discovered in India, the country's diamond industry has a long and illustrious history. It is the most sparkling gemstone available right now, and both Indian men and women are completely obsessed with it.
Have you ever wondered which Indian diamond exporters make the biggest impact on enhancing women's beauty? If not, this blog will provide you with detailed information about diamond export from India and diamond exporters in India.
Out of the 38 diamond mines worldwide, 23 are proudly owned by India. Most of them are found in Golconda, which used to be known as the "Diamond Capital." Diamond manufacturing companies in India are enamoured with this precious stone and want to enhance its beauty.
It was estimated that India's diamond production was worth 18.1 million Indian rupees in the fiscal year 2022.
Approximately three million lab-grown diamonds are produced annually in the country, making up 15% of the world's total production.
The market for diamonds worldwide was estimated to be worth $94.19 billion in 2023 and is expected to reach $138.66 billion by 2032. This indicates a 4.5% compound annual growth rate (CAGR) for the duration of the forecast.
India is predicted to have a $65.8 billion diamond jewellery market in 2022 and $85.8 billion in 2027.
The diamond market is anticipated to grow due to several factors, including:
Growing popularity of lab-grown synthetic diamonds
Development of new diamond-based industrial products
A rise in diamond sales via online sales
With raw diamonds imported for polishing, it is the largest country in the world for diamond polishing. Nearly 75% of the polished diamonds in the world are produced in India, making the country's diamond industry a significant contributor to the global diamond export market.
In addition, India leads the world in the diamond export industry for the following reasons:
Historical significance: Before the discovery of diamond mines in Brazil in 1726, India was the only supplier of diamonds worldwide. Some of the greatest diamonds in the world came from the Golconda mines.
Cutting and polishing: The town of Karwar developed into a major center for diamond cutting and polishing. India was the first country to discover that diamonds could be shaped and polished using another diamond.
According to diamond export data, India's cut and polished diamond exports to the US were valued at $15.97 billion in the fiscal year 2024.
Diamond exporters in India exported 3,742,248 shipments of diamonds between March 2023 and February 2024 (TTM), according to data on diamond exports.
During this period, February 2024 alone saw 315,523 shipments of diamond export from India. It is up -12% year over year from February 2023 and up 18% sequentially from January 2024.
Furthermore, the US, the UAE, and Hong Kong import the majority of India's diamond exports.
However, China, Vietnam, and India are the 3 biggest exporter of diamonds. With 14,955,928 shipments, India is the world leader in diamond exports. China comes in second with 499,577 shipments, and Vietnam comes in third with 275,775 shipments.
The following list shows the main destinations for diamond export from India:
| Top Rank | The Biggest Export Destinations of India’s Diamonds | Diamond Export Data |
| 1 | United States | $9.75B |
| 2 | Hong Kong | $5.2B |
| 3 | Belgium | $2.91B |
| 4 | United Arab Emirates | $2.51B |
| 5 | Thailand | $1.35B |
Therefore, these are the main markets to which diamond export from India is done. At a $9.75 billion export value, the United States is the main destination. Other important export markets include Belgium, Hong Kong, Thailand, and the United Arab Emirates. Additionally, go to Exportimportdata.in right now to obtain the trade data for every nation in the world.
Also Read: How to Find Buyers in International Market: Proven Ways to Export from India
Here is a list of the biggest diamond exporters worldwide:
| S.No. | Top diamond exporting countries | Export value |
| 1 | India | US$ 18.2 billion |
| 2 | United States | US$ 16.8 billion |
| 3 | Hong kong | US$ 14.6 billion |
| 4 | United Arab Emirates | US$ 10.3 billion |
| 5 | Belgium | US$ 9.7 billion |
| 6 | Israel | US$ 6.6 billion |
| 7 | Botswana | US$ 4.3 billion |
| 8 | Russia | US$ 2.2 billion |
| 9 | South Africa | US$ 2.1 billion |
| 10 | China | US$ 1.93 billion |
As per diamond export data, with a total diamond export value of 18.2 billion US dollars in 2023, India ranked first in the world. This is not because India produces a lot of diamonds in its mines; rather, it is the world's largest polishing nation, supplying raw diamond imports. Moreover, visit our informative dashboard Exportimportdata.in to obtain information on diamond exporters in India as well as data on diamond export from India.
Here is the list of prime diamond export company in India:
Sanghvi & Sons
Kalyan Jeweller
Titan Company
Kiran Gems Pvt Ltd
Laxmi Diamond
Hari Krishna Exports
Tribhovandas Bhimji Zaveri Ltd.
Goldiam Inter
Asian Star Company
Senco Gold
These are the top 10 diamond exporters in India, ranging from Sanghvi & Sons to Senco Gold, who have become industry leaders in the diamond trade.
A few more Indian firms that export diamonds are very successful in the international market due to their excellent quality, diversity, and services. To know more about diamond export from India, get diamond export data at Exportimportdata.in.
Although the Indian diamond industry is prosperous, it still has to contend with challenges like shifting global demand and rivalry from other countries. Still, there are plenty of development opportunities.
The growing demand for lab-grown diamonds has opened up a new market for India, and the country's expertise in traditional diamond cutting can be leveraged to meet this trend.
Additionally, up-to-date and accurate export and import data reports will support global traders in growing their companies. A major participant in the export-import market, Exportimportdata.in offers insightful information such as diamond export data, a list of diamond exporters in India, and diamond export from India.
The Last Remarks!
In the global diamond export market, India plays several different roles. The country is a major player in the sector because of its long history, highly qualified labour force, and favourable political climate.
Additionally, given the ongoing changes in the diamond market, India is well-positioned to seize new opportunities and maintain its leadership position globally. Still have questions about diamond export from India? Or are you looking at the list of diamond exporters in India? Schedule a free live demo by getting in touch with our team of professionals.
Diamond jewellery export from India
Diamond export from India to the USA
Diamond export from India to Botswana
Diamond export from India to Turkey
Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.
The United States, Hong Kong, Belgium, the United Arab Emirates, and Thailand are the biggest export destinations of India’s diamonds.
As per diamond export data for 2023-24, India is the largest exporter of diamonds. In fiscal year 2023, India exported diamonds worth US$ 18.2 billion.
Nearly 75% of the polished diamonds in the world are produced in India which makes it the biggest exporter of diamonds worldwide. Diamond export from India accounted for US$ 18.2 billion in 2023-24.
Sanghvi & Sons, Kalyan Jeweller, Titan Company, and Kiran Gems Pvt Ltd. are a few of the prime diamond export companies in India.
Globally, the US is the biggest market for diamonds. Based on diamond export data, India's cut and polished diamond exports to the US were valued at $15.97 billion in the fiscal year 2024.
