Diamond prices may remain steady in the current financial year as the Diamond Trading Company (DTC) has indicated to the Indian industry that supplies may be 15-20 per cent less than in the previous year.
“The move by DTC, the rough diamond sales and distribution arm of De Beers, may have a positive impact on prices but overall we do not see exports to grow in FY20. It may either remain flat or may fall 5 per cent,” Colin Shah, vice-chairman, Gem & Jewellery Export Promotion Council told ET.
Exports fell 6.3 per cent year-on-year during April 2018-February 2019 to $28,516.22 million.
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“The move by DTC, the rough diamond sales and distribution arm of De Beers, may have a positive impact on prices but overall we do not see exports to grow in FY20. It may either remain flat or may fall 5 per cent,” Colin Shah, vice-chairman, Gem & Jewellery Export Promotion Council told ET.
Exports fell 6.3 per cent year-on-year during April 2018-February 2019 to $28,516.22 million.
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