Diamond consumption by the growing middle classes in China and India will push global consumption to $26.1 billion in value, from its 2011 level of $15.6 billion. The U.S. is far and away the world’s largest diamond market. Its $27 billion in revenues are more than three times the revenues of China or India. China has grown rapidly into the world’s second-largest market for diamonds, with annual sales approaching $9 billion. India, world’s first diamond mines and the center of the cutting and polishing industry, is the third-largest global diamond market, with annual revenues approaching $8.5 billion, and growing rapidly.
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