The US administration—led by President Donald Trump—has imposed a 10% additional tax on natural diamonds, a move that directly impacts nearly one-third of India’s diamond exports to its largest market. According to a report by Crisil Ratings, this development is set to deepen the challenges faced by Indian diamantaires, who...
India’s Lab Grown Diamond industry has witnessed exponential growth over the past few years owing to factors like convenience of production, access to raw materials and affordable price, etc. The sector holds enormous potential in terms of both production and exports paralleled with India’s green initiatives. Smit Patel, Director of Greenlab...
Lab Grown Diamonds (LGDs) are gaining popularity with evolving global requirements as they offer sustainable solutions to modern challenges. India produces over three million lab-grown diamonds a year and accounts for 15% of global production. India’s lab grown diamond market size is expected to swell from US$ 299.9 million in...
Colin Shah, Chairman, Gems & Jewellery Export Promotion Council, asserts that while MSMEs in the sector are benefiting from the redefinition and Aatma Nirbhar Bharat Scheme, banks are not extending loans under CGTMSE scheme, which is hampering business. IBT: The lockdown has led to a complete washout for the gems...
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