• News
  • Gemstones
  • Birthstones
  • Jewelry
  • Lucky Gems
  • Health
  • Crypto Gems

China's Zero-Covid Policy Has A Negative Impact On India's Diamond Exports

In July, India's exports of cut and polished diamonds experienced a decline for the very first time this financial year. This decline was a direct result of the lockdown in China as well as Beijing's strategy of implementing zero-Covid.

And China's zero-covid policy has a negative impact on India's diamond exports.

Because of decreased demand from China, which is India's second-largest consumer of cut and polished diamonds after the United States, the country's exports of these stones dropped by 13.45% year-over-year to a total of $1,933.32 million in July.

The Policy Negatively Impacting Large Diamond Exports In India

A man's hand carves a diamond on a circular type of hood
A man's hand carves a diamond on a circular type of hood

In an interview with ET, the recently elected chairman of the Gem & Jewellery Export Promotion Council, Vipul Shah, stated that shipments of cut and polished diamonds from India to China will not witness an increase till normalcy returns to China.

The same pattern has been observed during the month of August as well.

Unless normalcy returns in China, the exports of cut and polished diamonds from India to China will not see an uptick. The same trend continued in August too.

On Tuesday of this week, the Chinese government once again ordered the quarantine of millions of people after multiple regions surrounding Beijing reported an increase in the number of persons infected with the Covid-19 virus.

Even though the nation was experiencing economic difficulties, it continued to enforce the lockdown. Diamond exports to countries in the Far East are also suffering as a result of the restrictions imposed by China.

According to Shah, the Jewellery and Gem World event will be held in Singapore this year instead of Hong Kong since there are fewer limitations on the possession of covid by tourists in Singapore than in Hong Kong.

September is when the show is scheduled to take place, and all of the buyers from other countries are expected to attend. In contrast to Hong Kong, which still requires visitors to obtain a visa before they can go there, Singapore has made it easier for overseas buyers and exhibitors to do business there.

Shah said:

China is a hub where international buyers come. But due to their zero-Covid policy and lockdown, hardly any international buyers are coming to China. Hong Kong too is stringent about Covid. Therefore, we are hoping that the meet in Singapore will result in exports of diamonds to go up.

In July, shipments of cut and polished diamonds decreased, but exports of plain gold and studded jewelry grew, bringing the total to $740.04 million, a 6.54 percent gain. The Middle East is the most important market for gold and jewelry set with stones.

The Workers In India - Facing Pay Cuts And Job Losses

Workers in India's diamond hub say they could lose their jobs or have their pay cut because of the coronavirus outbreak, which is hurting exports to China, which is one of the biggest markets for diamonds in the world.

India is the biggest producer of cut and polished diamonds in the world. About 15,000 big and small businesses in the western state of Gujarat supply diamonds that have been cut and polished to jewelry brands all over the world.

Recent Articles

  • Mariah Carey Discusses Her New Chopard Collaboration As Well As Butterfly's 25th Anniversary

    Mariah Carey Discusses Her New Chopard Collaboration As Well As Butterfly's 25th Anniversary

    Mariah Carey discusses her new Chopard collaboration as well as butterfly's 25th anniversary. MC tweeted on Friday morning (Sept. 16) about her sixth studio album's 25th anniversary, which was released on this day in 1997: "I poured myself into every lyric and every note on every song. 25 years later, it's still one of the proudest moments of my life & career."

  • Types Of Ruby - A Variation Of Red-colored Stones

    Types Of Ruby - A Variation Of Red-colored Stones

    The ruby stone is the first thing that comes to our minds when we think about red gemstones, even though there are a number of other red gemstones. This particular red stone is one of the most well-known stones in the world, and it can be found in nearly every piece of high-end jewelry. Ruby, on the other hand, is not concentrated on just a single variety; in fact, there are other types of ruby gemstones that do not exist that you are unaware of.

  • Top 10 Lucky Gems For Casino Gambling

    Top 10 Lucky Gems For Casino Gambling

    Gemstones are already beautiful and gleaming, and some of them are quite valuable. So it's not a big leap to believe that lucky gems for casino gambling can also bring good luck while gambling.

  • March Birthstone Blue Topaz - A Growing-popular Stone

    March Birthstone Blue Topaz - A Growing-popular Stone

    The Blue Topaz is the stone for March. This stone's name comes from the Greek word "topazios" which means "to look for." March birthstone Blue topaz is believed to be the stone that represents love, friendship, and peace.

  • Types Of Amazonite - Amazonite's Physical Benefits And Jewelry

    Types Of Amazonite - Amazonite's Physical Benefits And Jewelry

    Amazonite is a type of stone that is known for its incredible pastel color; in fact, due to its silky smooth tint of blue-green, many people believe that it is a portion of real food. There are just a few gemstones that are closely related to amazonite, as it is a unique form of potassium feldspar that occurs as green microcline.

  • Pandora Necklaces - The Beneficial Use Of Pandora Necklaces In 2022

    Pandora Necklaces - The Beneficial Use Of Pandora Necklaces In 2022

    Are you considering purchasing pandora necklaces for the first time, or are you concerned about the item you’ve purchased? We've observed that there are a lot of queries concerning Pandora necklaces, so here are some details to assist you to figure out what you're getting concerned about. To begin, remember that when you purchase a thing, you must first determine what type of product it is. For example, what is Pandora made of?

  • Zodiac Birthstones Chart - Lucky Gems That Match Your Personality

    Zodiac Birthstones Chart - Lucky Gems That Match Your Personality

    It is said that birthstones are the stones with the most significance and power out of all the different kinds of stones. This is due to the fact that it is believed that birthstones have connections to each and every one of us. Individuals who hold to the concept of the zodiac are most likely of the opinion that they must wear birthstones because they consider the ritual to be in some way connected to their way of life. Now, we are going to discuss the zodiac birthstones chart so you can pick the right birthstone according to your zodiac sign.

  • Types Of Opal - A Large Variety Of Opal's Aesthetic Appeal

    Types Of Opal - A Large Variety Of Opal's Aesthetic Appeal

    The opal stone is well-known for its shiny and multicolored appearance, which is what draws many people's attention to it. You might be surprised, given its little appearance, to learn that in ancient times it was also employed as a protection stone. One of the many wonderful properties of this stone is that it has types of opal that can be used for a variety of purposes.

  • Queen Camilla To Wear The Koh-i-Noor Crown - Here's Why

    Queen Camilla To Wear The Koh-i-Noor Crown - Here's Why

    Following the death of Queen Elizabeth II, the discussion regarding the fate of the legendary 105.6-carat Koh-i-Noor diamond has been revived. Following the confirmed news about Queen Camilla to wear the Koh-i-Noor crown. It is stated that Queen Camilla, the incoming King Charles III's wife, would wear the Type IIa D-color stone that serves as the centerpiece of her crown during her husband's coronation. This diamond is considered to be the most precious diamond in the world.