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India Business News: MUMBAI: After a robust growth in the past two fiscals, exports of cut and polished diamonds saw a 32 per cent decline in the April-July period, accord.
Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed that export volumes have increased with the US being the largest importer. They attributed the fall in export value to price instability after several new players entered the market.
Manufacturers of lab-grown diamonds (LGD) – which are 80% cheaper than natural diamond – also claimed that export volumes have increased with the US being the largest importer. They attributed the fall in export value to price instability after several new players entered the market.
The overall gross exports of gems & jewellery for the April-June quarter stood at Rs.60,222.10 crore as compared to Rs.77,499.44 crore in the corresponding period in the year previous, suggesting a decline of 28.08%, according to data available on Gem & Jewellery Export Promotion Council’s (GJEPC) website