Jewelers in India said they are the main beneficiaries of a recent resurgence in demand for diamonds, Israelidiamond.co.il reports.
Dealers in the country’s main diamond trading center of Surat say that they have been inundated with new orders submitted by importers from the United States, Europe, China, and United Arab Emirates.
The diamond jewelry industry is counting on September to be an improved month after a summer that saw a slowdown due to a decline in demand.
Despite the recent surge, officials with the Gem and Jewelry Export Promotion Council say that they expect exports to fall short by 15 to 20 percent compared to fiscal year 2012.
Rajiv Jain, the chairman of the GJEPC, said that the government’s decision to impose a 2 percent duty on imports of cut and polished diamonds contributed to the drop in exports at the beginning of the fiscal year. But the just-concluded International India Jewelry Show has injected fresh momentum into diamond exports.
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