India’s diamond imports from Namibia have been declining over the last five years, according to figures seen by Rough&Polished.
Data published by the Manohar Parrikar Institute for Defence Studies and Analyses showed that India imported non-industrial diamonds from the southern African country worth $810 000 in the 2021-2022 period.
India had imported diamonds worth about $15.2 million in the 2020-2021 period.
The period 2017-2018 saw India spending about $54 million importing non-industrial diamonds from Namibia.
It also spent about $45 million on Namibian diamonds during the 2018-2019 period.
The institute also said India’s diamond imports from Namibia over the last five years, accounted for more than half of the country’s total imports of the commodity.
Namibia, the world's sixth largest producer of rough diamonds, issued trading licences to Indian firms as far back as 2008.
Finestar Jewellery & Diamonds, an Indian firm, opened its factory in Namibia last month.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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