skip to main content
Moti Israeli Diamonds
the israel diamond industry logo

FINANCING CUTS CHALLENGE IMPACT INDIA’S ROUGH CUTTERS

India’s gross import of rough diamonds fell 17.4% to $8.55 billion
India Gems Diamonds
Credit: David Talukdar / shutterstock.com

Data published by the Gem & Jewellery Export Promotion Council (GJEPC) and quoted by Diamond World, shows that between April and November 2019, India’s gross import of rough diamonds fell 17.4% year-on-year to $8.55 billion.

 

Indian Jeweler
Credit: Kalcutta / shutterstock.com

 

According to the report, the sharp fall was caused by financing cuts by banks, which led to a “liquidity crunch” among cutters and polishers, resulting in a decline in purchases.

 

Indiam money bills and a globe
Credit: Akhilesh Sharma | Dreamstime.com

 

Cut and polished diamond exports fell 18.96% to $13.41 billion during the same period. In November 2019 alone, cut and polished diamond exports from India fell 25.18% year-on-year to $1.66 billion.



Tags: Diamonds News, Diamond Industry News, Diamond Prices News, India News

More News