This comes as Belgian firms eye opportunities in India’s burgeoning defence market, on the footsteps of French, Spanish and German defence firms that have stitched up lucrative contracts with India.
China: India s diamond exporters are expecting demand from Chinese buyers for the country s cut and polished diamonds at the Hong Kong Jewellery & Gem Fair, which is being held from September 20-24. Exporters are all set to negotiate prices with Chinese buyers as they want to clear the inventories, said industry executives.
India s diamond exporters are expecting demand from Chinese buyers for the country s cut and polished diamonds at the Hong Kong Jewellery & Gem Fair, which is being held from September 20-24. Exporters are all set to negotiate prices with Chinese buyers as they want to clear the inventories, said industry executives.
India s massive diamond industry is grappling with a prolonged crisis. Western sanctions on big miner Russia, inflation in the US and a downturn in China have hit the industry which cuts and polishes nine of ten diamonds in the world. Exports from the world s top diamond exporter are down; companies are cutting output, salaries and staff. In Surat, that controls 90% of India s diamond trade, the fates of thousands of workers hang in balance. Several have died by suicide. Team TMB travels to the heart of the diamond business and talks to merchants, brokers, workers, and a union leader to understand the issues that now face this centuries-old industry. Listen to this episode of The Morning Brief with host Anirban Chowdhury!
As the international diamond industry grapples with the fallout of Russia’s invasion of Ukraine and declining consumer demand, India’s cutting and polishing centres continue to suffer.