Diamonds: A cocktail of optimism, pessimism in the midst of Covid-19 pandemic

Rough & Polished’s Mathew Nyaungwa recently attended a webinar organised by CIBJO Communications to examine consumer demand at the time of the Covid-19 pandemic, importance of data, financial models and lab grown diamonds. The webinar, chaired by Edward...

10 august 2020

How Russkiye Samotsvety is coping with the current downturn

One of the key issues facing most Russian companies today is the need for an objective assessment of the new consumption decline due to the quarantine, as well as making forecasts for a way out of it. According to a RBC-Petersburg’s study made in June...

03 august 2020

Global rough diamond sales down 80-90% in value in Q2 –Zimnisky

The COVID-19 pandemic, which is spreading across the globe, having originated from China’s Wuhan has left diamond traders and buyers at sixes and sevens. Traditional diamond tenders were cancelled around March as governments imposed travel restrictions...

27 july 2020

Indian diamond and polishing industry requires forward integration - Dinesh Navadiya

Dinesh Navadiya is now the Regional Chairman (Gujarat Region) of The Gems & Jewellery Export Promotion Council (GJEPC) of India for the 3rd term. He is also the Director on the Board of the Gem & Jewellery Skill Council of India (GJSCI)...

20 july 2020

GJEPC will focus on demand generation for diamonds and jewellery in the next two years

Mr. Vipul P Shah, Vice Chairman, GJEPC and also CEO & Managing Director of Asian Star Co. Ltd. has a rich experience in the diamond industry. His business acumen and professional conduct have contributed significantly in transforming a diamond manufacturing...

13 july 2020

Lab-grown diamond jewellery exports from India to capture 2% of US market

14 august 2019
It is estimated that jewellery made from lab-grown diamonds is likely to capture over 2 per cent of India’s $14 bln worth of overall gems and jewellery exports to the US. This year exports of LGD jewellery is likely to be around $280 mln, according to a report in Business Standard.
The report said that Shashikant Dalichand Shah, Chairman of The Lab Grown Diamond and Jewellery Promotion Council expressed optimism of the US market as Indian exporters have recorded an increase in orders from the United States for the ensuing festive season including Christmas, New Year and Women’s Day. “We estimate lab-grown diamond jewellery will capture 2 per cent of the US market share from overall exports of gems and jewellery to the Unites States,” he added.
Apart from the US, India exports its lab-grown diamonds to France, Italy and Australia apart from other European and Asian countries, in small quantities. While Indian jewellery manufacturers import large lab-grown rough diamonds from the US, they import smaller size lab-grown rough diamonds from China.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished