India's polished diamond exports rose 11.2 percent year on year to $2.664 billion in September 2014, according to provisional data provided by the Gem & Jewellery Export Promotion Council. By volume, polished exports increased 9.2 percent to 3.63 million carats. Polished imports surged 80.8 percent to $1.097 billion, leaving next exports 45.4 percent higher at $1.567 billion.

Rough diamond imports increased 15.6 percent to $1.482 billion and rough exports rose 22.2 percent to $151 million, leaving net imports 14.9 percent higher at $1.331 billion. India's net diamond account, which is calculated as the difference between net polished exports and net rough imports, rose to $236 million compared with a deficit of $80.3 million in September 2013.

During the month, India imported $3.15 million worth of rough synthetic diamonds. Polished synthetic imports, meanwhile, totaled $4.78 million and exports were $4.82 million.

In terms of diamond trading for the first nine months of the calendar year, Rapaport Newscalculated that India's polished diamond exports rose 2.7 percent year on year to $16.561 billion, while polished imports increased 1.8 percent to $5.608 billion. Net polished exports improved 3.2 percent to $10.953 billion.

Rough imports increased 10.2 percent to $13.551 billion, while rough exports fell 17 percent to $1.188 billion, leaving net imports 13.8 percent higher at $12.363 billion. India's net diamond account for the January through September period recorded a deficit of $1.41 billion compared with with a deficit of $249 million one year earlier.