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Cut & polished diamond exports from India may come down 20% in FY21: Council


Cut & polished diamond exports from India may come down 20% in FY21: Council
The Global Diamond Report also indicates that while the diamond industry suffered during the Covid-19 crisis, it still managed to keep its sparkle.
Synopsis
The outlook is much in line with the Global Diamond Report 2020-2021 that has been released by Bain & Company and the Antwerp World Diamond Centre’s (AWD).
Kolkata: Cut and polished diamond exports from India may come down by 15 – 20 per cent in FY21 as compared to FY20 due to the outbreak of Covid -19, according to Colin Shah, chairman, Gem & Jewellery Export Promotion Council. The outlook is much in line with the Global Diamond Report 2020-2021 that has been released by Bain & Company and the Antwerp World Diamond Centre’s (AWD). ....

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Diamond Industry Ends Year From Hell On Upbeat Note


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The COVID-19 pandemic caused diamond jewelry sales to fall 15% during 2020, but the industry saw significant sales growth during the last quarter, according to the 10th annual Global Diamond Report, coproduced by Bain & Co. and the Antwerp World Diamond Centre.
Diamond jewelry sales climbed 5 to 10% in the U.S. during the fourth quarter of 2020 over the prior year, while they climbed 15 to 20% in China, the report found. Despite the struggles of the pandemic period, diamond jewelry performed better in 2020 than the overall personal luxury market, which saw sales fall 22%.
Among the report’s other findings:
Natural rough diamond production fell 20% to 111 million cts. Peak diamond production was in 2017, when 152 million cts. were mined. Diamond production is expected to be flat over the next few years, with very few new mines coming online. ....

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AWDC & Bain & C°'s 10th Report: Diamond Industry Brilliant Under Pressure

The title of the 10th Global Diamond Report, a collaboration between leading consultancy agency Bain & Company and the Antwerp World Diamond Centre (AWDC) leaves little to the imagination on its content. The COVID-19 crisis is unprecedented, not just in terms of its scale and impact on the entire world, but also in its unpredictability. And that also applies to the diamond industry at large, because while the crisis didn't leave the industry unscathed, very few people would have predicted that it would rebound significantly at the finish line. ....

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Brilliant Under Pressure: Global Diamond Market Shows Resilience In An Unprecedented Year


Press release content from PR Newswire. The AP news staff was not involved in its creation.
Brilliant Under Pressure: Global Diamond Market Shows Resilience In An Unprecedented Year
February 8, 2021 GMT
(PRNewsfoto/Bain & Company)
MOSCOW, Feb. 8, 2021 /PRNewswire/ While the diamond industry suffered during the Covid-19 crisis, it still managed to keep its sparkle. Lockdowns, travel restrictions and economic uncertainty pushed diamond jewelry sales down by 15 percent in 2020 with most of the decline happening in the first and second quarters. But faced with store closures, diamond retail sales pivoted online, and benefited from consumers who could not spend on travel or experiences choosing diamond jewelry instead. Demand returned during the fourth quarter, culminating in a strong holiday season across the globe. ....

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