Japan Crisis To Hit Diamond Industry

Published on 16/03/11

Diamond producers like De Beers and diamantiares in India, especially in Surat were banking heavily on the growth of the diamond jewellery consumption in India, China and other Asian nations. But, the growth prospects are likely to be affected by the havoc in the aftermath of tunami and earthquake in Japan.

After the effects of global economic downturn in 2008, Japan`s polished diamond import had started to show signs of recovery with the import touching $72.4 million in January, an increase of 44 per cent from January 2010.