India's exports of polished diamonds for February 2011 increased by 54.3% compared to the corresponding month of 2010, totaling $3.11 billion, IDEX Online reports.

The country imported 6.68 million carats of polished diamonds in February 2011, which represents a decrease from the 6.95 million carats of polished imported in February 2010 but a sharp rise in value of 78.9%, as the value of India's polished diamond imports for the month reported reached a gross value of $2.38 billion.

This figure puts India's net diamond exports for February 2011 at $732.5 million, compared to $582.5 million in the corresponding month of 2010.

IDEX notes that the polished import/export figures represent Round-Tripping, or exporting the same goods more than once to receive bank credit, which in India is allotted based on exports, as opposed to financing in other centers of the international diamond trade, where credit is issued on the basis of sales.