 After reaching its lowest point in the wake of the 1948 closedown, the industry has continued to grow, producing a world leader in the diamond industry.In the beginning of the 21st century, Israel is one of the world's three major centers for polished diamonds, alongside Belgium and India.Israel's net polished diamond exports slid 22.8% in 2012 as polished diamond exports fell to $5.56 billion from $7.2 billion in 2011.