Coronavirus Continues to Heckle the Industry
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Friday,February 21 2020 [ Issue 4 February/ 2020 ]
Coronavirus Continues to Heckle the Industry
Pressure mounts amidst Indian diamond industry, as parts of Hong Kong and China continue to be on lockdown. A decrease in polished prices is already squeezing the margins drastically, add to that the issue of coronavirus, is really leaving the stakeholders in a checkmate position.

The lockdown in both these regions will also exacerbate the liquidity issue and this could really be challenging for the industry considering the banks are already extremely cautious about lending to this sector.

The impact of the virus is felt all the way in the U.S. too as retailers are looking to source their goods from other manufacturing centres. Imports from China & HK to the U.S would definitely witness a sharp fall this quarter.

In other news, Bharat Diamond Week will take place in August along side IIJS this year to attract more buyers to the specially curated exclusive loose diamond show at Bharat Diamond Bourse.

 
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