Industry Information Keep Updated With The Jewelry Business
Gem and jewelry exports in FY24’s April-December plunged by 20.78% YoY to USD 22.7 billion, attributing the decline to world economic challenges and geopolitical factors. Notably, tough diamonds imports fell by 23.51%, whereas cut and polished diamond exports declined by 28.27%. Lab-grown diamonds, beforehand on the rise, experienced a 22.97% dip in gross exports. Despite the current setback, industry consultants, together with Colin Shah of Kama Jewelry, anticipate a gradual recovery from the third quarter of FY25.
However, a lot of the decline was due to steep losses in the UK, where the underperforming economic system exacerbated the influence of…