Kolkata: India’s exports of cut and polished diamonds dropped by 16.75% year on year to $13.29 billion in FY2025-the lowest level since the post-pandemic surge in FY2022. Kirit Bhansali, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), attributed the sharp decline to geopolitical tensions, a slowing United States economy and a complete halt in diamond purchases from China, traditionally the second-largest buyer after the USA.
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