Diamonds have scored over gold to make Belgium the second largest source of imports for India during 2002-03, replacing Switzerland.
According to the annual data released by the directorate-general of commercial intelligence and statistics, India's imports rose 19.2 per cent to $61.29 billion during 2002-03 from $51.41 billion during 2001-02.
Belgium's exports during the last financial year were estimated at $3.71 billion, 34.33 per cent higher than $2.76 billion during 2001-02.
During 2002-03, Switzerland was pushed to the fourth spot with imports of $2.33 billion, 18.86 per cent lower than $2.87 billion in 2001-02.
Germany was at the third spot with imports estimated at $2.38 billion during 2002-03, against $2.03 billion in the previous financial year.
India predominantly imports precious and semi-precious stones from Belgium, with Antwerp being the world's largest diamond market. On the other hand, a sizeable chunk of India's import from Switzerland is gold.
According to the statistics, the United States remained the largest source for merchandise goods with imports valued at $4.42 billion during 2002-03, 40.26 per cent higher than the $3.15 billion during the previous financial year.
During the 2002-03, all six regions - West Europe, East Europe, Commonwealth of Independent States and Baltic States, Asia and Oceania, Africa and America - registered growth in imports.
East Europe topped the list with a 41.4 per cent growth followed by Africa (31.48 per cent) and America (28.63 per cent).
In terms of share in India's import basket, Asia and Oceania accounted for 29 per cent and was followed by West Europe with 24.46 per cent, of which the 15 members of the European Union accounted for 20.42 per cent of India's total imports.
The product categories that registered over 10 per cent increase in imports included rice, spices, milk and cream, machinery, transport equipment, silk, cotton yarn and fabrics, precious and semi-precious stones, cashew nuts and electronic goods.
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