23/05/2024

In March, India purchased 728 thousand carats of diamonds from Russia. The indicator increased by 2.3 times compared to the previous period.

Why India?

Let's figure out how the diamond market roughly works. In general, buyers (we mean connoisseurs of luxury and jewelry) do not need rough diamonds. They are repurchased many times.

As a result, about 90% of all diamonds end up in India.

There are tens of thousands of cutting plants in this country that turn rough diamonds into polished diamonds. Given that the final product will be produced in India, and the country works closely with Russia in the areas of trade and logistics, they can increase their diamond purchases as long as it is beneficial for both countries.

Structure of the global diamond market

The entire market is from $12 to $15 billion per year. Russia accounts for $3 to $5 billion of this amount.

The world's largest diamond producer is Russia's ALROSA.

The country produces much more diamonds than the domestic market needs. Therefore, naturally, they will be exported.

And if some buyers refuse rough diamonds, there will be others.

How will the diamond market develop further?

The industry will continue to develop successfully. Perhaps buyers (countries) will change. But those partners with whom logistics have already been established will continue to buy diamonds from Russia.

Considering that all products are of high quality, it will not be difficult to find buyers. The market will adapt and the industry will continue to thrive. The demand for diamonds will be fully satisfied.