Diamonds in huge demand across the globe

Last updated : March 07, 2012 12:38 IST
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Diamond export is on upsurge offering opportunity for Indian players to explore foreign domains. As per Mehul Choksi, CMD Gitanjali Jewels: “Sales have shown double digit growth in the last two months or so. Surprisingly, Japan has emerged out as one of the key buyers in recent times.”

The current data is showing an upsurge in the demand of diamonds across the globe. Demand from China has gone up 40 per cent over the last year while Japan is also buying in large volumes the premium diamonds. Further as per the study conducted by Melbourne based research firm IBIS- World estimated that revenue from diamond and gemstone mining will increase by 37 per cent to USD 600 million in 2012.

The firms in the franchising of gems and jewellary sector have an advantage of settling up their outlets in different foreign domain to exploit the opportunities available. More than 100 exporters in Surat’s which is Rs 65,000 crore diamond cutting and polishing industry have their books full with surging foreign orders. 

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