NEW DELHI: The country's diamond industry has been affected due to a 40 per cent fall in demand from slowdown-hit China, industry body GJEPC said on Tuesday.
"We are feeling the pinch of slowdown in Chinese demand for diamond jewellery. Our market share in China has come down by 40 per cent due economic slowdown," Gem and Jewellery Export Promotion Council (GJEPC) chairman Vipul Shah told PTI.
India exports mostly polished diamond jewellery to China. "Things have not been great since April as demand has been continuously falling not only in China but other markets as well due to strengthening of the dollar against other currencies," he said.
Falling demand in China and other markets like Middle East due to weak economy has forced domestic traders to cut down production and jobs, he added.
K F C
No issues, our PM Motiji will create diamonds demand magically to improve the conditions of diamond industry.
Love My India
there you go india benefit of china crash.. this is what happen when stupid illiterate liar loser make PM and finance minister of this complex country
Next trip is to Amsterdam.
So how exactly is India going to gain with the Chinese downturn as our leaders keep telling us.
India should search more avenues. At the same time India should do more research in Diamond sector and apply innovative ideas. At the same time resourcing raw diamond from cheaper resources is also important.
Don't worry this is a community business and their support is from PM who will go on more visits to promote the trade abroad
I am sure India's rape business is still strong.
Rightly said. You can conveniently add 'extortion' also.
A very wired world... impact every where and any where ..