Fading Brilliance: Diamond Sales Hit Lowest Since Covid-19

2023 • 15min • News • Business


Published On: November 13, 2023 - Diamond sales have hit a new low. De Beers group, in its ninth sales results, has said that it has recorded the lowest sales since the beginning of the COVID-19 pandemic. There was a sharp decline in sales from $US 454 million in the 9th cycle of 2022 to $US 90 million in the 9th cycle of 2023, as per the De Beers Group. The ninth cycle occurred between 4 October and 3 November. India has the largest import and export share of diamonds globally. According to the Gem and Jewellery Export Promotion Council data, while India's import share stands at 21.6%, its export share stands at 30.82%. Join News9's Kartik Malhotra with Rakesh Khar and Ajesh Mehta, Convener-Diamond panel, GJEPC.