MOSCOW, Oct. 21 India purchased diamonds from Russia for a record $215 million in August, according to an analysis of data from the Indian Ministry of Trade and Industry.
So, at the end of summer, India increased imports of Russian diamonds four times in monthly terms and by nine percent in annual terms — up to $215.1 million. This became the largest monthly purchase since March 2018 — then the republic purchased 481 million worth of precious stones at once.
In total, since the beginning of the year, Indian companies have purchased $863 million worth of diamonds from Russia, which is 29 percent more than last year.
According to the Indian industry regulator, the Gems and Jewelry Export Promotion Council, at the end of September, Alrosa, at its request, suspended the sale of diamonds for September and October. Later, major representatives of the Indian diamond sector recommended freezing all imports of rough diamonds into India for two months — this became the most radical restrictive measure since the pandemic.