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Showing posts with the label polished-diamond exports

Diamond polishers’ revenues likely to fall 28-30%

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  India’s natural diamond polishing industry faces a steep hill    According to Crisil Ratings, India’s natural diamond polishing industry faces a steep 28-30% fall in revenues to ~$12.50 billion this fiscal, compared with $16 billion last fiscal, after the imposition of 50% tariffs (25% reciprocal plus 25% penalty) by the US. The blow will follow a ~40% degrowth over the past three fiscals because of a fall in both prices and sales volume of natural diamonds as demand in the US and China dropped, and competition from lab-grown diamonds rose.    The 50% tariffs, effective this week, makes exports to the US tough for two reasons: one, the industry’s low margins make absorption of the incremental levy very difficult and two, declining demand means passing on the incremental burden to consumers will not be easy. The consequent reduced operating leverage could erode the operating margin of diamond polishers by 50-100 basis points and pressurise their credit profiles...

Global diamond market is seized by uncertainties!

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GJEPC India is attempting to add export destinations to mitigate fall!   According to the available Gem & Jewellery exports of India for the period of November 2024 and cumulatively also for the period of April 2024 to November 2024, overall gross export of Cut & Polished diamonds at US$ 666.01 million (Rs. 5622.11 crores) in month of November 2024 is showing a decline of 39.81%(-39.010% in Rs. Term) as compared to US$ 1106.53 million (Rs. 9217.88 crores) for the same period of previous year.   Global diamond market is seized by geopolitical uncertainties and economic weaknesses are capable enough to tumble cut & polished diamond exports of India. Although GJEPC India is attempting to add more export destinations to mitigate fall. Prudent leadership of the council is leaving no stone unturned in the sync of the ongoing government’s ease of doing business initiatives!   The overall gross Imports of Cut & Polished diamonds at US$ 54.03 million ( ...