India Diamonds Import Market -- HS 7102 Trade Data & Price Trend (Q2 2025)

India Diamonds Import (HS 7102) Key Takeaways

India’s diamonds import under HS Code 7102 in Q2 2025 reveals a market in decline, with a 9% quarterly drop to $5.63 billion amid volatile trade conditions. The product mix is dominated by low-value, unworked diamonds (66% share), while high-value worked diamonds command premium pricing but face risks from U.S. tariffs. Supplier concentration is extreme, with a handful of high-value traders handling 66% of import value, creating supply chain vulnerability. Geographically, India relies heavily on the UAE and Botswana for rough diamonds, while domestic re-imports of polished goods highlight inefficiencies. This analysis is based on cleanly processed Customs data from the yTrade database for Q2 2025.

India Diamonds Import (HS 7102) Background

What is HS Code 7102?

HS Code 7102 covers diamonds, whether or not worked, but not mounted or set, including industrial and non-industrial varieties. These diamonds are critical for jewelry manufacturing, precision cutting tools, and high-tech industries, driving consistent global demand. India’s role as a key processing hub further underscores the importance of this classification in global trade.

Current Context and Strategic Position

In Q2 2025, India’s diamond imports under HS Code 7102 faced heightened trade tensions, including a 25% reciprocal U.S. tariff on Indian gems and jewelry [blog.intoglo.com]. Despite this, India remains a dominant player in diamond processing, with active imports of industrial diamonds from the UAE, Hong Kong, and Russia. Customs duties on worked diamonds typically hover around 10%, though rates vary by subcategory [eximguru.com]. Monitoring India’s diamonds import trends and HS Code 7102 trade data is essential for navigating these shifting trade dynamics and maintaining competitive supply chains.

India Diamonds Import (HS 7102) Price Trend

Key Observations

India's diamond imports under HS code 7102 totaled $5.63 billion in Q2 2025, marking a 9% decline from the previous quarter. This pullback followed a volatile first half, with March's exceptional $2.92 billion import value driving H1 activity.

Price and Volume Dynamics

The India Diamonds Import trend showed significant volatility in early 2025, with March's surge to $2.92 billion likely reflecting pre-holiday inventory builds and speculative positioning ahead of anticipated policy shifts. However, this proved unsustainable, as values fell sequentially each month through June, closing the quarter at $1.80 billion. The hs code 7102 value trend indicates a market correcting from overheated levels, with buyers becoming more cautious amid growing trade uncertainty and narrowing margins.

External Context and Outlook

The quarter's volatility aligns directly with escalating trade tensions, particularly the [U.S. imposition of reciprocal tariffs] targeting Indian goods including gems and jewelry. This policy shift has introduced significant uncertainty into export-reliant diamond processing, dampening importer confidence and inventory appetite. Looking ahead, the market faces headwinds from these tariff structures, though potential currency adjustments and domestic policy support for synthetic diamonds may offer some offsetting momentum.

India Diamonds Import (HS 7102) HS Code Breakdown

Product Specialization and Concentration

According to yTrade data for Q2 2025, India's import under HS Code 7102 is heavily concentrated in unworked non-industrial diamonds, specifically sub-code 71023100, which makes up 66% of the total import value. This product, described as diamonds that are not mounted or set, has a unit price of $139, much lower than the $1,206 for worked diamonds, highlighting a specialization in lower-value, raw material imports. An anomaly is sub-code 71022990 with a unit price of $2,202, but it has negligible volume and is excluded from the main analysis.

Value-Chain Structure and Grade Analysis

The import data groups into unworked diamonds (including industrial and non-industrial types) with unit prices under $140, and worked diamonds with prices above $1,200. This split shows a clear value-add stage, where basic processing increases worth, moving from raw to semi-finished goods. The structure points to trade in differentiated products based on processing level, not uniform bulk commodities.

Strategic Implication and Pricing Power

Pricing power favors imports of worked diamonds due to their higher value per unit. However, external factors like the recent 25% U.S. tariff on Indian imports [blog.intoglo.com] could raise costs and disrupt sourcing strategies for HS Code 7102 trade data, urging importers to focus on cost-efficient suppliers and value-added segments.

Check Detailed HS Code 7102 Breakdown

India Diamonds Import (HS 7102) Origin Countries

Geographic Concentration and Dominant Role

India dominates its own diamond imports by value in Q2 2025, accounting for 27.41% of total import value but only 2.29% of quantity. This large gap between value and quantity shares confirms these are high-value, finished or polished diamonds, not rough stones. The United Arab Emirates follows as the second-largest source by value (23.95%), with Botswana (16.42%) and Angola (10.91%) also significant. Together, these four origins supply over 78% of India's diamond import value, showing heavy concentration.

Origin Countries Clusters and Underlying Causes

Suppliers split into three clear clusters. The High-Yield Cluster includes India itself, where high value but low quantity points to domestic re-imports of processed goods, likely for quality control or inventory returns. The Volume Cluster features the UAE and Botswana, which combine high value with very high quantity shares—the UAE provides 36.52% of quantity, Botswana 16.85%. This suggests they are major hubs for rough diamond sourcing, essential for India's cutting and polishing industry. A Transactional Cluster includes Hong Kong and Belgium, with high shipment frequency (2.34% and 2.75%) but lower value shares, indicating frequent, smaller shipments of specialty or traded diamonds.

Forward Strategy and Supply Chain Implications

India's heavy reliance on the UAE and Botswana for rough diamonds creates supply chain vulnerability. Any disruption in these countries could directly impact India's diamond manufacturing output. The high self-import value share also hints at potential inefficiencies, like returned goods or inventory adjustments. External factors like new U.S. tariffs on Indian exports, including gems, could reduce export demand and thus alter import needs for rough materials [Blog Intoglo]. Diversifying rough diamond sources and monitoring trade policy shifts will be key for maintaining stable HS Code 7102 imports.

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

Get Complete Origin Countries Profile

India Diamonds (HS 7102) Suppliers Analysis

Supplier Concentration and Dominance

According to yTrade data, the India diamonds import supplier market in Q2 2025 is heavily concentrated. A small group of high-value, high-frequency suppliers dominates, accounting for 66% of the total import value. These suppliers represent the typical trade, handling nearly three-quarters of all shipments but just under half of the total quantity, indicating they focus on higher-value goods.

Strategic Supplier Clusters and Trade Role

The profile of HS code 7102 suppliers indicates an intermediated market. The dominant group includes companies with names like PRECIGEMS TRADING and GEMOLOGICAL INSTITUTE OF AMERICA, which act as major trading and certification hubs. Other clusters play supporting roles: a few large-volume, low-frequency shippers contribute over half the quantity, while numerous small, frequent and infrequent shippers handle minor value and volume, suggesting a market with both bulk and niche players.

Sourcing Strategy and Vulnerability

India's diamond import strategy should prioritize maintaining strong ties with its core high-value suppliers. The heavy reliance on this group creates vulnerability to supply chain disruptions or shifts in their business. The high-volume, low-frequency cluster offers potential for bulk deals but requires careful relationship management. [Trump's Tariff Hike on India Explained] notes increased U.S. tariffs on Indian imports, including gems, which could indirectly pressure import costs or alter trade flows. Sourcing should focus on securing consistent supply from key partners while diversifying to mitigate concentration risk.

Table: India Diamonds (HS 7102) Top Suppliers List (Source: yTrade)

Check Full Diamonds Supplier lists

Action Plan for Diamonds Market Operation and Expansion

Strategic Supply Chain Overview

India's Diamonds Import under hs code 7102 trade data reveals a market defined by two key price drivers. First, the level of processing dictates value. Unworked diamonds average $139 per unit, while worked diamonds exceed $1,200. Second, geopolitical factors and supply concentration create price volatility. External risks like new U.S. tariffs can increase costs and disrupt flows.

The resulting Diamonds supply chain implications are significant. India's role is dual: it is a major processing hub for rough stones and a destination for high-value finished goods. This creates a critical dependency on a few key origins like the UAE and Botswana for raw materials. Any disruption there threatens manufacturing output. The high self-import value also suggests potential inefficiencies, like inventory returns.

Action Plan: Data-Driven Steps for Diamonds Market Execution and Expansion

• Analyze hs code 7102 trade data at the sub-code level to prioritize sourcing. Focus procurement on higher-margin, worked diamonds (e.g., 71023900) to increase value per shipment. This directly boosts profitability by leveraging the massive price gap between raw and processed goods.
• Use supplier frequency and value data to diversify your partner base. Reduce reliance on the dominant high-value supplier cluster by identifying and onboarding new partners from the volume or transactional clusters. This mitigates concentration risk and ensures supply chain resilience.
• Monitor trade policy alerts and origin country data weekly. Adjust sourcing strategies immediately in response to tariff changes or geopolitical events in key countries like the UAE and Botswana. This protects your operations from sudden cost spikes and supply shortages.
• Benchmark self-import transactions against industry averages. Investigate any high-value, low-quantity shipments from domestic sources to identify and eliminate potential inefficiencies like unnecessary returns. This optimizes logistics spending and inventory management.
• Leverage shipment frequency data to forecast inventory needs. Align purchase orders with the high-frequency patterns of core suppliers to prevent stockouts of critical rough materials. This ensures smooth production cycles for India's diamond manufacturing sector.

Take Action Now —— Explore India Diamonds Import Data

Frequently Asked Questions

Q1. What is driving the recent changes in India Diamonds Import 2025 Q2?

India's diamond imports fell 9% in Q2 2025 after a volatile first half, with March's $2.92 billion surge likely tied to pre-holiday inventory builds. The decline reflects growing trade uncertainty, including U.S. tariffs on Indian exports, which dampened importer confidence.

Q2. Who are the main origin countries of India Diamonds (HS Code 7102) 2025 Q2?

India itself is the top origin (27.41% of import value), followed by the UAE (23.95%) and Botswana (16.42%). These three account for over two-thirds of total import value.

Q3. Why does the unit price differ across origin countries of India Diamonds Import?

Price differences stem from product grade: unworked diamonds (e.g., sub-code 71023100) average $139/unit, while worked diamonds exceed $1,200. India's high self-import value suggests polished/re-imported goods.

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

Prioritize relationships with core high-value suppliers like PRECIGEMS TRADING, who dominate 66% of import value. Diversify sourcing to mitigate risks from heavy reliance on the UAE and Botswana for rough diamonds.

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

Suppliers of high-value worked diamonds have pricing power, but bulk rough diamond shippers (e.g., UAE, Botswana) remain critical for India's cutting/polishing industry. Frequent small shipments (e.g., Hong Kong) cater to niche demand.

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

India primarily imports unworked diamonds (66% of value) for cutting/polishing, with some re-imports of finished goods. The split reflects a value chain from raw materials to processed gems.

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