The head of an Indian diamond industry association is predicting that local diamond cutters and polishers will export more polished diamonds in the first three months of 2013 that they did during the same three months a year previous, Diamond Intelligence reports cited by Israelidiamond.co.il. Gem and Jewelry Export Promotion Council chair Vipul Shah anticipates that India's exports of polished diamonds in the first quarter of 2013 will rise by 15% year-over-year.
If proven to be correct, the trend would signify an about-face for the Indian diamond industry. For the nine-month period between April and December 2012, India's exports of polished diamonds stood at only $11.5 billion worth, a year-over-year decrease of no less than 35.7%.
Shah is predicating his positive forecast on improvements in the European economy and increased consumer confidence, especially from Italy, France, and Eastern European countries, according to Diamond Intelligence.
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