India Diamonds HS7102 Import Data 2025 March Overview

India Diamonds (HS 7102) 2025 March Import: Key Takeaways

India’s diamonds import under HS Code 7102 in March 2025 reveals a market dominated by high-value polished stones from India itself, despite low quantity share, alongside rough diamond inflows from producers like Botswana and trading hubs like the UAE. The data highlights a concentrated supply chain, with India sourcing 29.66% of import value domestically, pointing to reliance on high-grade processing. Importers should prioritize direct ties with rough producers to mitigate costs, given the 10% customs duty noted by GJEPC. This analysis, covering March 2025, is based on cleanly processed Customs data from the yTrade database.

India Diamonds (HS 7102) 2025 March Import Background

What is HS Code 7102?

HS Code 7102 covers diamonds, whether or not worked, but not mounted or set, including rough, cut, or polished variants. These diamonds are critical inputs for India’s jewelry and industrial sectors, driving demand from global markets due to their use in luxury goods, cutting tools, and high-precision manufacturing. Stable global demand and India’s role as a processing hub underscore the product’s strategic importance.

Current Context and Strategic Position

As of March 2025, India’s imports of diamonds under HS Code 7102 faced a 10% basic customs duty, 10% IGST, and a social welfare surcharge (0.25%–1.5%), with no major policy shifts reported [GJEPC]. Despite U.S. reciprocal tariffs impacting Indian exports, the diamond import regime remained stable, reflecting India’s reliance on raw diamond inflows for its gem and jewelry industry [Intoglo]. Vigilance is essential as India’s Diamonds HS Code 7102 Import 2025 dynamics hinge on global trade tensions and domestic processing demand.

India Diamonds (HS 7102) 2025 March Import: Trend Summary

Key Observations

India's HS Code 7102 diamond imports surged to $2.92 billion in March 2025, with no significant volume recorded by weight. This represents a sharp rebound from February's $1.38 billion, marking the strongest monthly performance in early 2025.

Price and Volume Dynamics

The March spike reflects classic industry stock-building ahead of anticipated policy shifts. Importers likely accelerated purchases to lock in favorable terms before potential tariff changes, creating a pronounced QoQ jump. This aligns with typical trade patterns where diamond supply chains react swiftly to policy signals, prioritizing value over volume when securing inventory under uncertainty.

External Context and Outlook

The import surge directly responds to new U.S. trade policy. [Trump’s August 2025 reciprocal tariffs] triggered advance buying to avoid future cost increases, while India’s steady 10% basic duty on HS Code 7102 imports (GJEPC) provided a stable baseline for planning. Near-term demand will hinge on how these tariff structures influence global diamond trade flows and sourcing strategies.

India Diamonds (HS 7102) 2025 March Import: HS Code Breakdown

Product Specialization and Concentration

According to yTrade data, India's import of Diamonds under HS Code 7102 in March 2025 is dominated by unworked non-industrial diamonds, specifically the sub-code for "Diamonds; non-industrial, unworked or simply sawn, cleaved or bruted, but not mounted or set", which accounts for over half the value share. This product has a unit price of 123.74 USD per unit, indicating a focus on lower-value raw materials. Extreme price anomalies, such as certain cut diamonds with very low or high unit prices, are excluded from the main analysis due to their minimal volume impact.

Value-Chain Structure and Grade Analysis

The non-anomalous imports are grouped into three categories: worked non-industrial diamonds with high unit prices around 1239 USD per unit, industrial diamonds with low prices around 8-10 USD per unit, and unsorted diamonds at 51 USD per unit. Industrial diamonds function as fungible bulk commodities, often traded based on quantity, while worked non-industrial diamonds represent differentiated, high-value manufactured goods with significant value addition.

Strategic Implication and Pricing Power

Importers should prioritize higher-value worked diamonds to leverage pricing power and better margins, but must account for additional costs from tariffs. According to [GJEPC], a 10% basic customs duty applies to HS Code 7102 imports, increasing overall costs and influencing strategic sourcing decisions for India Diamonds HS Code 7102 Import in 2025 March.

Check Detailed HS 7102 Breakdown

India Diamonds (HS 7102) 2025 March Import: Market Concentration

Geographic Concentration and Dominant Role

In March 2025, India's import of diamonds under HS Code 7102 showed strong geographic concentration, with INDIA itself as the dominant source by value at 29.66%, despite a low quantity share of 3.07%. This large gap between value and quantity ratios points to high unit value diamonds, likely polished or high-grade stones, rather than rough material. Other top sources like the United Arab Emirates had a lower value per unit, suggesting rougher diamonds.

Partner Countries Clusters and Underlying Causes

The top sources form three clusters based on value and quantity patterns. First, high-value sources like INDIA and China Hongkong (value ratio 11.40%, quantity ratio 3.35%) likely supply polished diamonds for further processing or domestic sales. Second, rough diamond producers such as Botswana, Angola, and South Africa offer lower value per unit, indicating raw material imports. Third, trading hubs like the United Arab Emirates and Belgium handle high volumes at lower values, serving as entry points for rough diamonds into India.

Forward Strategy and Supply Chain Implications

For diamond importers in India, the geographic patterns suggest a need to diversify rough diamond sourcing from producers like Botswana and Angola to manage costs, while leveraging high-value domestic or regional polished supplies. Import duties around 10% basic customs duty add to expenses, as noted in GJEPC, making cost-efficient sourcing critical. Supply chains should prioritize direct ties with rough producers to reduce reliance on hubs and mitigate duty impacts.

Table: India Diamonds (HS 7102) Top Partner Countries (Source: yTrade)

Get Complete Partner Countries Profile

India Diamonds (HS 7102) 2025 March Import: Action Plan for Diamonds Market Expansion

Strategic Supply Chain Overview

India's diamond import market under HS Code 7102 in March 2025 is defined by two core price drivers. First, product type and processing level create price tiers: raw industrial diamonds trade as low-value commodities, while worked non-industrial diamonds command premium prices. Second, geographic sourcing impacts cost, with direct imports from rough producers like Botswana offering better value than hub-based channels. These drivers create a supply chain focused on India's role as a global processing hub, blending cost-efficient raw material inflows with value-added polishing and finishing. However, reliance on concentrated buyer segments and trading hubs introduces vulnerability to demand shifts and duty-related cost pressures, such as the 10% basic customs duty.

Action Plan: Data-Driven Steps for Diamonds Market Execution

• Analyze HS Code 7102 sub-categories monthly to prioritize high-margin worked diamonds. This maximizes pricing power and avoids low-value commodity traps.
• Segment buyers by frequency and value using trade data to secure contracts with dominant high-spending importers. This ensures revenue stability and reduces customer acquisition costs.
• Map geographic sources to shift rough diamond purchases directly to producers like Botswana or Angola. This cuts costs by minimizing hub fees and duty impacts.
• Monitor policy updates and duty changes in real-time to adjust pricing and sourcing strategies. This prevents profit erosion from unexpected cost increases.

Take Action Now —— Explore India Diamonds Import Data

Frequently Asked Questions

Q1. What is driving the recent changes in India Diamonds Import 2025 March?

The March 2025 surge to $2.92 billion reflects stock-building ahead of anticipated U.S. tariff changes, with importers securing inventory under policy uncertainty. This follows a rebound from February’s $1.38 billion, marking the strongest monthly performance in early 2025.

Q2. Who are the main partner countries in this India Diamonds Import 2025 March?

India itself dominates with 29.66% of import value (despite only 3.07% of quantity), followed by the United Arab Emirates and China Hongkong (11.40% value share). These sources reflect high-value polished diamonds and rough material hubs.

Q3. Why does the unit price differ across India Diamonds Import 2025 March partner countries?

Price gaps stem from product specialization: high-value worked non-industrial diamonds (e.g., from India) average $1,239/unit, while industrial diamonds (e.g., from Botswana) trade at $8–10/unit. Rough diamonds from trading hubs like the UAE fall in between.

Q4. What should importers in India focus on when buying Diamonds?

Prioritize securing relationships with dominant high-value buyers (65.73% of import value) while diversifying into rough diamond sourcing from producers like Botswana to mitigate reliance on concentrated markets and tariff pressures.

Q5. What does this India Diamonds import pattern mean for overseas suppliers?

Suppliers of polished diamonds (e.g., India, Hong Kong) have stable demand, while rough diamond producers (e.g., Angola, South Africa) can leverage India’s need for cost-efficient raw materials. Trading hubs like the UAE must compete on volume efficiency.

Q6. How is Diamonds typically used in this trade flow?

Unworked non-industrial diamonds (50%+ value share) are imported as raw materials, while worked diamonds represent high-value manufactured goods. Industrial diamonds function as bulk commodities for industrial applications.