Indian Diamond Market 'remains Strong'

Published on 24/11/08

Many areas of the diamond industry are containing to operate well despite the global financial downturn, it has been claimed.

Varda Shine, managing director of the Diamond Trading Company told the Economic Times while the sector, which produces items such as diamond bracelets, is experiencing some troubles during the credit crunch, territories such as India and China remain strong.

She pointed out the first half of 2008 saw double-digit growth in several emerging markets, including Turkey and the Middle East.

Ms Shine added to the news provider she expects the Indian diamond industry to improve further.

She stated: "We have nearly 40 customers in India, and all of them are sound so far. They believe the sector will turnaround once the economies recover and demand rises."

Recently, Ms Shine was among the guests invited to the Israel Diamond Exchange's 70th anniversary celebrations, it may interest owners of gold diamond rings to learn.