Diamond News Archives

(IDEX Online) - An Indian farmer unearthed a "pebble" that turned out to be 14.98 carat diamond - that has now been sold at auction for over $80,000.

Lakhan Yadav, 45, was prospecting last month on a rented patch of land in an area of the central Madhya Pradesh state known for its diamond deposits.

He bought a motorbike with the pre-auction deposit he received from the local diamond office, and said he would now be able to pay for his four children's education.

He scooped up a handful of earth, stones and pebbles and noticed that one shone when he rubbed off the dust, he told Times of India.

Screengrab shows Lakhan Yadav and his 14.98-ct diamond...

(IDEX Online) - India's gem and jewelry exports rebounded last month, approaching pre-Covid levels for the first time since the pandemic hit.

Manufacturing is almost back to normal and after a series of voluntary embargoes, rough imports rose in October by almost 70 per cent.

Foreign sales for November were within four per cent of the same month in 2019, signaling a sharp upturn in demand.

 October, by comparison, was down 19 per cent, and September was 26 per cent.  Exports were down almost 99 per cent in April, and have been gradually recovering since then.

Gross exports for November were 2.48bn, according to new figures from the Gem and Jewellery Export Promotion Council (GJEPC).

But overall gross exports for April to November remain well down on last year - a decline of 44 per cent - reflecting many months of extremely poor sales.

Colin Shah, GJEPC chairman, said: "Manufacturing is returned to almost 90 per cent as rough diamond imports witnessed 69% growth in October.

"Considering the encouraging market demands and the current rate of growth, the sector is expected to record exports to pre Covid level numbers in the last quarter."

Generic pic shows diamond polishing in India...