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vishakha Jangir
ย โขย
Set2Scoreย โขย 2m
๐๐ป๐ฑ๐ถ๐ฎ'๐ ๐ฑ๐ถ๐ฎ๐บ๐ผ๐ป๐ฑ ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐ :๐ India processes 90% of the worldโs diamonds by volume and contributes over 75% of the global polished diamond exports. Surat is the worldโs largest diamond cutting and polishing hub, handling over 80% of Indiaโs diamond processing, with nearly 5,000 diamond units employing over 1 million workers. India imports 80-85% of its rough diamonds, primarily from Russia (30%), Africa (25%), and Canada (20%). The countryโs diamond exports were valued at $22.5 billion in 2023, with major buyers being the USA (40%), UAE (25%), Hong Kong (15%), and Belgium (10%). Leading Indian diamond companies include Kiran Gems ($1.5 billion revenue), Rosy Blue ($1.3 billion), and Shree Ramkrishna Exports ($1.2 billion). GJEPC regulates trade, BIS ensures quality, and RBI oversees foreign trade policies, supporting a $40 billion gem and jewelry industry. The lab-grown diamond market in India is growing at 15-20% annually, driven by affordability and sustainability. The industry is adopting AI and blockchain, with over 60% of major Indian diamond firms integrating digital tracking systems. Online diamond jewelry sales are rising, with a 25% annual growth rate, as more consumers prefer ethical, conflict-free diamonds. Indiaโs reliance on imported rough diamonds makes it vulnerable to price fluctuations and supply chain disruptions. Global diamond demand is expected to grow at 3-4% annually, but competition from China and Botswana is increasing. GST (3%) and import duties (7.5%) impact pricing and profitability, adding to operational costs. Growth is expected in lab-grown diamonds ($1 billion market by 2030), e-commerce (15% market share by 2025), and sustainable sourcing. Government incentives, including tax benefits and export support, aim to boost the industryโs global position. Follow vishakha Jangir for more such business insights.
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