Indian Cut & Polished Diamond exports to contract to decadal low in FY2025; sector outlook remains negative: ICRA

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Indian Cut & Polished Diamond exports to contract to decadal low in FY2025; sector outlook remains negative: ICRA - Economic Times

Quick Summary:

According to ICRA’s recent note on the sector, CPD exports from India contracted by 28% in FY2024, led by the worsened global macro-economic conditions and increased competition from lab-grown diamonds (LGD).

The credit profile of the CPD players is likely to remain subdued in FY2025 following the reduced scale of operations, lower profitability and continued stretched working capital cycle.

While some sequential improvement in volumes is expected in the coming months, driven by the onset of the festive season, the same will be offset by continued pressure on polished prices, especially given the current high inventory levels.