India showed reduced exports of polished diamonds to Japan, in the first six months of 2008. Although, India has been the biggest supplier of polished diamonds to the country. Japan saw its imports of polished diamonds decrease by 9.5 percent and amount to $416.32 million in the said period.

India supplied $161.26 million worth of diamonds, a dip of 14.6 percent. Infact Belgium increased its exports to Japan by 5 percent, amounting to $111.3 million. The year-to-date polished imports from Israel also dropped almost like India to 15 percent valuing at to $53.68 million. However, despite the increase in gold prices, Japan’s gold jewellery imports increased by 15 percent to $441.71 million.