Key Highlights:

• A detailed overview of diamond export in India.
• India’s diamond export amounted to $17.51 B during June 2024-July 25.
• The HS codes for diamonds are 7102 and 7104.
• The US, Hong Kong and the UAE are the top 3 diamond importers for India.
• Shree Ramkrishna Exports Private Limited​ is the biggest diamond exporter in India.

Diamond Export Market In India

Diamond jewellery holds traditional value in India, especially on festive occasions. Finished Indian diamond jewellery are well known for their design and fine quality at a global level. India ranks first among the largest diamond exporters. Natural wrought and unwrought diamonds, completed jewellery, and lab-grown diamonds are all included in the diamond export. India is renowned for its diamond manufacturing and processing.

Since the market for lab-grown diamonds has increased in recent years, the diamond-exporting countries have seen a shift in demand. The export of both lab-grown and natural. The export of natural and lab-grown diamonds has amounted to $17.51 B during 2024-25. The United States ($5.83 B), Hong Kong ($4.32 B), the UAE ($2.73 B), Belgium ($1.69 B) and Israel ($722.59 M) are the top countries that import diamonds from India.

Largest Diamond Exporters In India

 

India’s diamond export sector is fuelled by multiple big businesses, although the bigger share of 58.91% of the total export is fulfilled by small companies under the category of “Others”. The Indian companies export diamonds ranging from naturally acquired wrought and unwrought diamonds, lab-grown diamonds and diamond jewellery. 

As per the export data, Shree Ramkrishna Exports Private Limited​, Kiran Gems Private Limited​ and Dharmanandan Diamonds Private Limited​ rank in the top 3 businesses among the largest diamond exporters, with a contribution of 10.87%, 5.72% and 4.42%, respectively. Followed by Gia India Laboratory Private Limited​ and Hari Krishna Exports Private Limited, who have secured fourth and fifth positions in the top 5 list by exporting 4.23% and 4.06% market share, respectively, during 2024-25.

Venus Jewel​, Shivam Jewels​ and Mahendra Brothers Exports Private Limited​ fall next in line in the top 10 list of largest diamond exporters with percentages of 3.30%, 3.20% and 1.92%, respectively. The last two contributors to the top 10 diamond exporters list are Rosy Blue [India] Private Limited​ and Laxmi Diamond Limited​. They export 1.73% and 1.64% of the total diamond exports.

HS Code-Wise Diamond Classification

7102 - Wrought/Unwrought

7104 - Synthetic/lab-grown diamond

As per the export-import data, the diamond classification is based on HS codes that follow criteria like form, function and composition. Diamonds as classification criteria include form and creation. Naturally acquired wrought/unwrought diamonds fall under the HS code 7102; synthetic/lab-grown diamonds are considered under HS code 7104.

Top 5 Global Diamond Exporting Countries As Per India Export Data

• India - $17.51 Billion

• Botswana - $3.27 Billion

• Lesotho - $1.74 Billion

• Namibia – $1.24 Billion

• Vietnam - $153.03 Million
  
  

In A Nutshell

India is the biggest diamond exporter as well as importer globally. India imports diamonds to supplement its major industrial process requirements. As per India import data, India imported diamonds worth $19.33 during 2024-25. The majority of these diamonds are reshipped to different nations as finished products. Lab-grown diamonds are expected to modify the diamond export industry in the near future.

Are you a budding businessperson aiming to add diamond export to your kitty?Diamond export can be started by gaining the required certification and registration. Track real-time market trends and reach out to verified buyers through the Ex-Im app.

Frequently Asked Questions (FAQs)

1. Does India import diamonds?

Yes, India imports diamonds to fulfil the domestic demand and for industries that process the diamonds into finished jewellery and export. They are regulated under the Indian Export Code (IEC).

2. Can small businesses export diamonds?

Any business that has the diamond business certificates like IEC, Kimberley Process Certification (KPC), Bureau of Indian Standards (BIS), Hallmarking/Certification from Gemological Labs and GST. Once established, you can engage in diamond export by tracking the real-time data and reaching out to verified buyers through the Ex-Im app by The Dollar Business.

3. Which diamond does India export the most?

India is the biggest exporter of diamonds. Cut and polished diamonds have the highest demand among India’s diamond buyers. As per the export trade data, the demand for lab-grown diamonds has been increasing in recent times. 

4. Which countries are top importers of diamonds?

India, Uzbekistan, Botswana, Vietnam, Armenia, Mexico, Sri Lanka, Indonesia, Namibia and Costa Rica are among the top diamond-importing countries.

5. How is the quality of diamond assessed for exports?

International assessments are followed for quality checks before the diamond export. They are perceived by the 4Cs: cut, clarity, colour and carat.

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