FORTNIGHTLY MARKET REPORT
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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India’s 2016-17 Gems & Jewellery Exports Rise 10% To $43.1bn

India’s exports of gems and jewellery beat expectations by rising 9.85% to $43.1 billion in the financial year 2016-2017 mainly due to a resurgence of demand in key markets like the US, Hong Kong and UAE.
Announcing the results at a press conference in Mumbai on April 27th, Gem & Jewellery Export Promotion Council (GJEPC) executive director Sabyasachi Ray said the Indian industry had maintained its leadership position in a year of great disruption, which included developments such as demonetisation, Brexit and Trump’s victory among others.
Outlining the apex body’s goals for the next five years, GJEPC chairman Praveenshankar Pandya noted that it was essential for India to become a leading supplier of gold jewellery as well as the preferred destination for cutting and polishing higher value diamonds.
Pandya stated, “Prime Minister Narendra Modi, in his special live video message, congratulated GJEPC on our 50th Anniversary, and expressed his

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