With the stimulus that China is about to unveil, demand from the neighboring country is expected to grow strongly as it is low on inventory. An easing of geopolitical risks with the hopes of a resolution to the Russia-Ukraine conflict are what Indian gems and jewellery exporters pin hopes on.
Gross exports of cut and polished diamonds in November 2024 amounted to $666 million – a decline of 39.8% in comparison to the year-ago month. "In response to this, many diamond companies are cutting down production and there are still several factories that haven't been operating at full capacity since Diwali," Shah said.
This story is from the December 28, 2024 edition of Financial Express Bengaluru.
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This story is from the December 28, 2024 edition of Financial Express Bengaluru.
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