Diamond Jewellery Exports To Japan To Stall For 6 Months

Published on 16/03/11

Earthquake-hit Japan seems to have taken sheen off the Indian gems and jewellery exports. Units based in Surat are expected to be badly hit as diamond exports to the island country have come to a halt. India exports over $4-billion worth diamonds and jewellery to Japan annually.

The massive earthquake followed by a devastating tsunami scrambled the demand for precious stones amid panic and uncertainty about the recovery from what is described as the worst crisis since the World War II. Diamond traders see dismal prospects for exports at least for the next four-six months as priorities of citizens shift from luxury to necessity.