Surat's diamond industry hopes to regain its shine this festive season

Quick Summary:

Despite these challenges, mining companies have recently managed to stabilise the supply of rough diamonds, curbing previous drastic price fluctuations, the report said.

This also coincides with reduced consumer demand from the major markets of the US and China, leading to a ripple effect throughout the industry.

This downturn is largely attributed to diminished demand in key markets, compounded by a growing preference for lab-grown diamonds.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaUkraineUnited States

Topics: Surat diamond industry 2024 Diamond export Natural diamond Festive season Diamond industry Consumer demand

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 17:03:17 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 499 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23284840

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