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flag India's natural diamond polishing industry projects a 25-27% revenue decline to $12 billion due to decreased demand, oversupply, and lab-grown diamonds.

flag India's natural diamond polishing industry is facing a projected 25-27% revenue decline to about $12 billion this fiscal year, marking a decade low. flag Key factors include decreased demand in major markets like the U.S. and China, a 10-15% drop in diamond prices due to oversupply, and a growing preference for lab-grown diamonds. flag This marks the third consecutive year of declining revenues, although operating margins may stabilize by fiscal 2025, reducing reliance on external debt.

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