India Diamond Exports: India s diamond industry plans to reduce its bank financing requirements by a third, targeting $4 billion for the current fiscal year, down from $6 billion in FY23. This comes amid a slowdown in global demand. Traders are focusing on clearing existing inventory rather than accumulating more, which would necessitate additional borrowing.
India s diamond industry plans to reduce its bank financing requirements by a third, targeting $4 billion for the current fiscal year, down from $6 billion in FY23. This comes amid a slowdown in global demand. Traders are focusing on clearing existing inventory rather than accumulating more, which would necessitate additional borrowing.
While the festive season may spur demand in some way in the upcoming months, exports are still expected to contract by 10% year-on-year presenting a grim outlook.
Diamond exports grow 26 98% during Apr-Sept 21 diamondworld.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from diamondworld.net Daily Mail and Mail on Sunday newspapers.