According to a report on Idex Online by CHAIM EVEN-ZOHAR, 2009 was probably the best year in a decade for India's diamond industry.

In terms of polished diamond exports, India's $15.16 billion in 2009 was only 1.7 percent below the $15.42 billion of the 2008 calendar year. Measured in polished carats, the volume of exports was actually up some 13 percent, reaching a staggering 51.9 million carats.

He says it was equally a good year for Indian exports.

Traditionally, Israel, India and Belgium are responsible for 90 percent of US imports. Looking at the comparative positions of these three major competitors, imports from Israel declined by 41 percent, from Belgium by 30 percent, and from India, only by 21 percent. India was able to stem the declines and weather the storm better than others.

In terms of market share, India rose from the 20 percent level that it has held for most of this decade to 25 percent. In one year, India increased its market share by 25 percent.

On a global scale, India was far less impacted by the financial crisis than most other countries. The country's diamond industry enjoyed extremely supportive government policies backed by an equally supportive (mostly government-owned) banking system.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook