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News

Demand for commercial-grade diamonds increasing

  • Author:Tina
  • Source:Yadao
  • Release on :2014-09-24

Exporters in India are seeing a slower demand for high-end diamond jewellery in the holidays as consumers are now opting for lower-priced items, business-standard.com said in a recent.

Despite signs of an economic recovery in the US – the world’s largest gemstone and jewellery consumer – exporters said they remain cautious, according to the report.

This year, diamond manufacturers are “receiving bulk orders from the US in the lower- to mid-end categories,” said Vipul Shah, chairman of the Gem & Jewellery Export Promotion Council. In previous years, the market was demanding for higher-end goods, Shah continued.

“While the actual growth in orders will be known only after a few weeks, we are hopeful this season will be better than last year,” he continued.

The US market accounts for 38 percent of global annual demand, making it the most important market for global diamond jewellery manufacturers and retailers.