Net imports of rough diamonds into India in May 2026 are estimated at $588 million, according to preliminary data from the Gem & Jewellery Export Promotion Council (GJEPC).
Diamond imports, in value terms, were 41 per cent lower than last year’s figures.
In April this year, the figure was 31 per cent lower year-on-year.
Net imports in May totalled 5.8 million carats. This is 24% lower than the figure for the same month last year.
Imports of synthetic diamonds into India in May are estimated at $78 million, which is 18% higher than last year’s level.
India’s net diamond exports in May amounted to approximately $909 million. The volume of exports was 3% higher than the figure for the same period in 2025.
The war in the Middle East has increased pressure on the diamond market, as recently reported by Rapaport. Due to the hostilities, diamond traders from Dubai have shifted their sales to other locations, raising concerns about Indian cutters’ access to rough diamonds.
India is one of the main buyers of diamonds, primarily small rough diamonds, and the world’s largest centre for diamond production: the country accounts for 95 per cent of global production of these gemstones.