Representative image Mumbai: The diamond industry is in facing major headwinds, going by a CRISIL report. Diamantaires are bracing for a decadal-low in revenues as demand slumps. Flattish margins, declining working capital requirements, and controlled debt are expected to aid credit profiles. India’s natural diamond polishing industry is set to see revenues plummet 25-27% on-year…
Indians are splurging on diamonds buoyed by a decline in solitaire prices since last Diwali. This has also raised hopes of robust sales of solitaires in the upcoming festive season, jewellers said. Prices of the most common variety of solitaire diamonds of 1 carat have fallen from a high of Rs 4.2 lakh last Diwali…
Representative image The Indian diamond market is looking at a big opportunity to add a new shiny feather to its already glittering cap. India is positioning itself as the world’s largest producer and exporter of lab-grown diamonds (LGDs), leveraging a significant drop in prices and undercutting global competitors with more affordable production methods, ToI reported…
The lab-grown diamond market has seen a significant drop in prices, from $300 a carat in July 2022 to $78 a carat recently. Natural diamonds experienced a 25-30% price drop too. Factors like rising gold prices, a downturn in the US economy, and changes in Chinese buying patterns have impacted the diamond industry negatively, reported…
Representative image. The recent surge in gold prices has led to a shift in consumer behaviour towards lab-grown diamond (LGD) studded jewellery, which is more pocket-friendly, said LGD manufacturers and retailers. In addition to this, the value-seeking consumer is also attracted to LGD studded jewellery as it offers a proposition of more gold proportion in…
Representative image. After clocking a positive export figure in November this year, the lab-grown diamond (LGD) exports are again back in red in December despite prices falling by 45 percent in the current fiscal year. Exports of polished lab-grown diamonds for the period Dec 2023 stood at US$ 83.51 million and showed a decline of…
Indian diamond industry will resume rough diamond imports from December 15, two months after it voluntarily suspended the imports in the wake of low demand. The suspension was in effect from October 15-December 15. The suspension was collectively taken by the Gems and Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse, Mumbai Diamond Merchants Association,…
As European capitals prepare to implement long-awaited sanctions on Russia‘s diamond exports, Belgian traders are bracing for new scrutiny of their industry. In Antwerp’s renowned diamond district — which handles an estimated 86 percent of the world’s rough diamonds — polishing “labs” are turning to blockchain technology to prove their gemstones come from legitimate mines…
All India Gem And Jewellery Domestic Council (GJC) is not in favor of banning the import of rough natural diamonds until December 15, a top official said. The GJC board will meet to deliberate on the issue in order to prevent a hardening of the price of the precious stone in the domestic market ahead…
