JERUSALEM: In a recession-hit industry, India has emerged as the second largest exporter of polished diamonds in February, losing out to Israel but beating Belgium, a media report here said.
Israel, registering exports of USD 119.6 million, leads the pack compared to USD 106.4 million for India and USD 74.1 million for Belgium, daily Ha'aretz reported.
The numbers are, however, not all that good news for the industry as February sales are only half of what they were a year ago.
The Israeli diamond industry shrank 60 per cent in the fourth quarter of 2008, compared to the same period the year before when diamond prices started falling steadily.
Source : The Economic Times