Mumbai Market Has Eye on Hong Kong Show - There are many overseas and domestic buyers in the market and there is a clear demand for goods, but transactions have been slowed considerably due to the differences in asking and offering prices. The 5-7% increase in the price of rough diamonds at the February De Beers Diamond Trading Company (DTC) sight is the main factor in sellers’ insistence on higher polished prices.
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The Indian gem and jewellery export sector is upbeat once again following the strong showing for the fiscal year 2016-17. The Gem & Jewellery Export Promotion Council (GJEPC) announced a 10% increase in gem and jewellery exports, at $43.1 billion, for the 12-month period. Thanks to the revival of demand in key markets like the US, Hong Kong and UAE, India retained its position as one of the world’s top sourcing hubs, especially for cut and polished diamonds, which rose by an impressive 10% to $22.7 billion.
After dominating the diamond processing sector, the Indian industry has now set its sights on jewellery. At the behest of Prime Minister Narendra Modi’s appeal to harness India’s untapped potential, GJEPC chairman