Imports Of Rough Diamonds
India's export of cut, polished diamonds may fall by 22% in FY24: ICRA
India's export of cut and polished diamonds is projected to decline by 22 per cent to USD 17.2 billion in the current fiscal due to weakened demand from the key consuming nations, according to rating agency Icra. In the first five months of the current fiscal, cut and polished diamond exports witnessed a sharp year-on-year decline of 31 per cent following lower export volumes and higher polished diamond prices, it said. Export of cut and polished diamonds has been on a declining trend since the first half of 2022-23, it added. "The export contraction is primarily being driven by weak underlying demand conditions in key consuming nations like the US and Europe due to the inflationary pressures, leading to a shift in spending away from diamonds," Icra Vice President and Sector Head Sakshi Suneja said in a statement. The demand from China, which accounts for 10-15 per cent of the global demand, has also not picked up meaningfully so far, she said. In addition, competition from lab-gr
 "India's export of cut, polished diamonds may fall by 22% in FY24: ICRA")
Diamond city of Surat faces upheaval as demand declines due to sanctions
The demand for diamonds fell as sanctions were imposed on diamonds mined, processed or produced in Russia; India sourced almost 35 per cent of its rough diamonds from Russia
 "Diamond city of Surat faces upheaval as demand declines due to sanctions")
Indian diamond industry set to focus on domestic markets, ASEAN countries
The diamond industry is set to focus on domestic markets and emerging markets in ASEAN countries in an attempt to neutralise the impact of reduced demand from the US and the European Union (EU)
 "Indian diamond industry set to focus on domestic markets, ASEAN countries")
India's rough diamond imports fall sharply in 2019 over liquidity crunch
The overall gross import of rough diamonds between April to November 2019 has shown a decline 17.24 per cent to $8.55 billion from $ 10.34 billion registered during April to November 2018
 "India's rough diamond imports fall sharply in 2019 over liquidity crunch")
How a glut in diamonds is taking a toll on an already embattled industry
The blossoming popularity of lab-grown diamonds - and production in China and India - is another potential headwind for miners of natural gems
 "How a glut in diamonds is taking a toll on an already embattled industry")
Imports of rough diamonds up by 11.11% to $15.5-bn in Apr-Jan period: GJEPC
On the other hand, imports of cut and polished diamonds have dipped by 12.91 per cent to $1.8 billion during the same period
 "Imports of rough diamonds up by 11.11% to $15.5-bn in Apr-Jan period: GJEPC")
