Rough diamond sales to fall by 30%-40% this year due to pandemic: Moody’s

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Global rough diamond sales are set to fall by 30%-40% this year as the coronavirus pandemic have upended all stages of the value chain, likely affecting Indian exports as well, Moody’s Investors Service said. “We expect exports of polished diamonds and imports of rough diamonds by Indian cutters and polishers, the middlemen that connect miners […]

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Indian jewellery exporters contact mines directly to supply small quantity of rough diamonds to SMEs

Faced with an irregular supply of quality diamonds, which is hurting domestic sales and exports, diamond processors, under the aegis of the Gems and Jewellery Export Promotion Council (GJEPC), are in talks with leading global miners to accommodate small and medium enterprises (SMEs) into their sightholders’ list to deal with them in small quantities of […]

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India’s diamond traders complain about higher cost of procurement of roughs in Mumbai

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Diamond traders in Mumbai are complaining about not getting stones directly from miners like De Beers, Rio Tinto and Alrosa due to taxation issues. During the auctions at Mumbai’s Indian Diamond Trading Centre (IDTC), the traders said their cost has increased substantially, as they now have to procure the rough diamonds from overseas hubs. Nearly […]

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