The import of diamonds into India is forecasted to continue its upward trajectory over the next five years. In 2024, the import value is projected to reach 31.609 billion USD, with steady increases leading to 35.072 billion USD by 2028. This represents consistent year-on-year growth rates of approximately 2.82% to 2.64% in the forecast period, indicating robust and stable demand.
In the previous two years, we observed a growth in the import values, finishing at 30.732 billion USD in 2023. The compounded annual growth rate (CAGR) over the last five years is around 2.73%, reflecting a healthy increase that shows the resilience and expanding nature of the diamond market in India.
Future trends to watch for include global economic conditions, consumer spending power, and the development of synthetic diamond markets, which could influence demand and pricing. Additionally, changes in trade policies and advances in mining technology may also impact the dynamics of diamond importation.
