The industry has confronted challenges, however falling prices have spurred demand, particularly in Mumbai. Gem and jewellery exports in FY24’s April-December plunged by 20.78% YoY to USD 22.7 billion, attributing the decline to global financial challenges and geopolitical factors. Notably, rough diamonds imports fell by 23.51%, whereas reduce and polished…
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November 2022 Jewelry News, Views, Trends And Happenings
The course for diamond exports is clearly towards building manufacturers and creating newer markets. The Indian retail jewellery industry is expected to witness a 10-12% growth in domestic jewelry consumption for FY2024, revised up from an earlier estimate of 8-10%, driven by the rise in gold costs. However, ICRA tasks…