Diamond Export From India 2026 Market Overview & Trends

India's diamond exports exhibit a consistent downward trend following a 2021 peak. The export value dropped from $24.7 billion in 2021 to $14.1 billion in 2024. Total quantity also decreased from 54.4 million to 32.7 million units during this period, indicating a contraction in global demand and reduced trade volume over the last four years.

In 2024, the United States remains the primary destination for Indian diamonds, importing $4.8 billion worth of goods. Hong Kong follows as the second-largest market at $3.4 billion. Together with the United Arab Emirates ($1.9 billion) and Belgium ($1.6 billion), these top four regions represent the core of India's diamond export revenue.

Botswana stands out as a high-growth emerging market with a 142.8% increase in 2024, despite its smaller absolute value. In contrast, major traditional markets like the United States and Japan have seen declines of approximately 18.9%, highlighting a significant shift in trade dynamics and potential diversification toward African trading hubs.

Polished diamonds are the dominant export product for India, accounting for $13.49 billion in 2024. Rough diamonds follow at $657 million, while industrial and unsorted diamonds contribute negligible amounts. This data confirms India's status as a specialized global hub for the cutting and polishing segment of the diamond value chain.