Diamond shipments may dip up to 15% in FY24, predicts ICRA

Diamond shipments may dip up to 15% in FY24, predicts ICRA.

Indian cut and polished diamond shipments may dip up to 10-15% to $19-20 billion in FY24, after an 8-10% contraction in the previous year, due to a worldwide recession, according to rating agency ICRA.

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Tighter liquidity and macroeconomic challenges are lowering total sales.

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Kolkata: Diamond exports are on a freefall owing to a global recession.

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