Diamond biz expected to grow at 20%: experts

PANAJI: The Rs 7,800-cr-strong Indian diamond business is expected to grow at a rate of 20 per cent with diamond industry successfully building confidence in the consumers, experts feel. "Diamond trade is picking up at mini-metros besides the main metros of the country.

The growth in mini-metros' is encouraging and they are growing at 25 per cent compared to 18 per cent in other metros," stated Prasad Kapre, business director, Diamond Trade Corporation (DTC), an apex body covering the trade. The diamond giants contend that the customers' "walk ins" inquiring about diamonds have increased over past decade.

"We have given confidence to the consumer to walk in and buy diamond," Kapre stated pointing out to the series of diamond campaigns with catchy slogans. Diamond industry, which employs three million people, has also contributed to country's foreign exchange revenue to the tune of USD 14 billion, he said.

The experts feel that the diamond has changed its look too "from traditional chunky look to modern one, the diamond is right now having a fusion of old and modern looks," Kapre stated.