India is the world's largest diamond processing country with around 1 million processors treating over 57 % of the world's rough diamonds by worth. According to recent reports, 11 out of 12 diamond set in jewelry are cut and polished in India.
In terms of carat, India's contribution in this sector is about 80 % of the global market. Employing over 90 % of the global diamond industry workforce, the country also accounts for about 90 % of the volume of diamonds prose in the world.
Cut and Polished Diamonds witnessed a decline of 17.3% with exports decreasing from US$ 28217 million in 2010-2011 to US$ 23329 million in 2011-2012.