Covid-19 cases are increasing in China and the government’s lockdown policies are very severe. This may impact diamond exports from India as demand has not picked up in spite of increased global economic activity.
“Rising Covid cases in China and the Far East are a matter of worry. It can have some impact on exports of cut and polished diamonds in the fourth quarter. However, the demand from the US is very strong which is expected to make up for the drop in exports to China,” Vipul Shah, vice chairman, Gem & Jewellery Export Promotion Council said.