India's rough diamonds

India to Lead Demand for Natural Diamonds

India will lead demand for natural diamonds in 2024, says David Kellie, CEO of Natural Diamond Council (NDC), as US buyers increasingly switch to lab grown. “The Indian market remains the strongest growth market in the world because of its strong financial position and changing demographics,” he told The Economic Times, in India. “Indian women … Read more

The world’s largest office building is filled with diamonds

A new office building in India’s diamond city Surat in Gujarat, where 90% of the world’s diamonds are manufactured has surpassed the Pentagon as the largest structure of the kind. Built over 7.1 million square feet of floor space, the Surat Diamond Bourse (SDB) has a big leg up on the 6.5 million square feet … Read more

20,000 jobs lost in Surat as diamond demand fades

Plummeting demand for cut and polished diamonds in the West and China has pushed some 20,000 workers out of work in the last one month in Surat, where 80% of the diamonds sold globally are polished. Surat, the main centre of India’s diamond industry, offers employment to some 800,000 workers in its 4,000-odd cutting and … Read more

India Warns of Impact from Proposed US Tariffs

India’s jewelry industry could lose business to rivals such as China and Mexico if the US goes ahead with its proposed new tariffs on the sector, industry leaders warned this week. Fresh import duties would jeopardize jobs and the well-being of the industry in both India and America, officials from the southern Asian nation said … Read more