Russia has significantly increased supplies diamonds to the Indian market, reaching the highest export volumes in recent months. August shipments totaled $31.3 million, more than double last year.
According to information from the Indian Ministry of Trade and Industry, Russian companies have significantly increased their diamond exports to India. The volume of supplies in monetary terms reached $31.3 million, demonstrating more than double growth compared to the same period of the previous year. This is the maximum figure since April of this year, when diamonds worth $92.5 million were supplied.
In the overall rating of suppliers diamonds in India Russia occupies seventh position. The top exporters to the Indian market were the United Arab Emirates with $685 million, Hong Kong with $173.1 million and the United States with $140.3 million.
Despite the impressive growth in recent deliveries, overall dynamics since the beginning of the year show a decline. Foreign buyers reduced purchases of precious stones from Russian companies by almost 40%, and total exports amounted to $342.1 million.
Experts note that the increase in supplies of Russian diamonds to India reflects the adaptation of market participants to changing economic conditions and the restructuring of supply chains. India continues to be an important global center for diamond processing and trading, making the development of a trade partnership strategically important for both countries.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
Source: @dprom
