Donald Trump

GJEPC CHAIRMAN: TRUMP’S PRESIDENCY WILL INCREASE INDIA’S DIAMOND EXPORTS TO THE US

Praveen Shankar Pandya, chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC), expects that a Donald Trump presidency will increase India’s polished diamond exports to the US by 10%-15% – growth similar to that seen in 2016, according to a report in IDEX Online.

 

“More jobs are being created in America and they would spend more money on jewelry”, Pandya told Bloomberg in an interview quoted by IDEX Online. “It is already a big market, it’s going to be bigger. From 2008, the market took a beating and now it is again going up”. He added: “The focus is moving from east to west, as the only center that is really promising for the industry right now is the US”.

 

In the eight months through November, India’s exports jumped 12% on the year to $15.4 billion, while rough imports surged by almost a third. The recovery in the US market, “which accounts for almost half of global diamond demand, saw orders over Christmas double from the year before”, said Pandya.

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