India’s diamond exporters are turning to Asian markets as demand in the US, still the world’s No, 1 consumer of diamonds, remains sluggish, the Economic Times reports.
According to figures from India’s Gems and Jewellery Export Promotion Council, India’s diamonds and jewelry exports for April-December 2011 were up 11.65% compared to the corresponding period of 2010.
A senior official at Gitanjali Gems noted that Japan had recently become a “key buyer.”
Meanwhile, Indian diamond suppliers have noted strong demand from China and Vietnam, as well. Last year, China eclipsed Japan to become the second-largest consumer market for diamonds in the world.
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