Colin Shah, MD-Kama Jewelry shared his Perspective on the Performance of Diamond Exports! He said, “We are in a wait and watch situation for the revival of diamond exports. The last one and a half year has been of a constant economic turmoil for the Indian diamonds industry.
The major blow for the industry was owing to the constant ongoing geo-political crises starting from Russia-Ukraine war to Israel-Hamas conflict. The volatility is caused by the subdued sentiment in the major Indian diamonds importing markets, the USA and China along with the growing preference for lab-grown diamonds in the international markets.
While the Indian diamond exports are yet to get ashore, we definitely expect the tide to be in our favour in the long haul. The exports will start to see some relief by the end of CY2024 on the downward trajectory of the rates by US Fed and reduced inflationary risks.
While the market for lab-grown diamonds will co-exist with its natural counterpart, we definitely expect to see some light at the end of the tunnel for corrections in natural diamond exports.”
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