India is expected to lead the global natural diamond demand in 2024 due to its strong financial position and changing demographics. The Natural Diamond Council (NDC) has pegged the global diamond market at $100.4 billion. The Indian market remains the strongest growth market in the world, with Indian women becoming financially stronger and driving demand.
India is expected to lead the global natural diamond demand in 2024 due to its strong financial position and changing demographics. The Natural Diamond Council (NDC) has pegged the global diamond market at $100.4 billion. The Indian market remains the strongest growth market in the world, with Indian women becoming financially stronger and driving demand.
Nepal and India have agreed to strengthen their economic and commercial ties through bilateral initiatives. The India-Nepal Inter-Governmental Sub-Committee (IGSC) on Trade, Transit, and Cooperation to Combat Unauthorised Trade convened its latest session in Kathmandu. The agenda included discussions on the construction of new Integrated Check Posts and railway links, as well as the review of the Treaty of Transit and the Treaty of Trade.
The G7 leaders have decided to introduce import restrictions on non-industrial diamonds, mined, processed, or produced in Russia, from January 1, 2024, followed by further phased restrictions on the import of Russian diamonds processed in third countries from March 1, 2024.
Diamond Import: The suspension was collectively taken by the Gems and Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse, Mumbai Diamond Merchants Association, Surat Diamond Bourse, and Surat Diamond Association, to address the challenges related to the imbalance between demand and supply.