ICRA forecasts decline in India’s cut & polished diamond exports to decade-low levels
ICRA forecasts India's cut and polished diamond exports to hit a decade-low of $12.5-13 billion in FY2025, marking an 18-19% year-on-year decline. The downturn is driven by weak global demand, increased competition from lab-grown diamonds, and high inventory levels. The sector outlook remains negative.