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Gem And Jewellery Export Promotion Council: Gem and jewellery exports in FY24 s April-December plunged by 20.78% YoY to USD 22.7 billion, attributing the decline to global economic challenges and geopolitical factors. The import of gems and jewellery also saw a 22.43% YoY decrease. Notably, rough diamonds imports fell by 23.51%, while cut and polished diamond exports declined by 28.27%. Lab-grown diamonds, previously on the rise, experienced a 22.97% dip in gross exports. Despite the current setback, industry experts, including Colin Shah of Kama Jewelry, anticipate a gradual recovery from the 3rd quarter of FY25. ....
A ban on trade in diamonds originating from the Russian Federation came into force on Monday, 1 January; the relevant decision on Russian diamonds was made as part of the 12th package of sanctions against Russia. ....
Nice rock. Is it Russian? About a third of the world's diamonds come from Russia, earning the Kremlin at least a billion dollars a year as it wages war in Ukraine.Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. America spends more on diamonds than anywhere else, accounting for more than half of all global sales. December is peak season. The journey of a diamond from a Russian mine to a U.S. jewelry counter can be complicated - which ....
The company sold 519.4 thousand carats (kcts) of rough diamonds in the third tender cycle, up 17% from the second tender cycle and 71% from the same period last year ....