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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Editorial

The Mines to Market diamond conference held in mid-March saw a lot of serious introspection by the diamond industry on the issues of finance, transparency, compliance, generic advertising, synthetics and more. Prime Minister Narendra Modi, who addressed the gathering via live teleconference, asked the industry to get its act together and come up with a comprehensive and practical plan to take the industry forward. The PM also suggested that the industry should study different international markets and drive sales of India’s handcrafted jewellery that will appeal to global consumers. Paying heed to his advice, the GJEPC is now setting up an ambitious plan targeting $60 billion in exports by 2022.

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