Coronavirus impacts diamond exports in Surat

The anti-government protests in Hong Kong and the US-China trade war has already impacted the polished diamond exports from India and now the outbreak of deadly coronavirus is expected to decrease the overall exports. China is the world’s second largest diamond jewellery market after United States. The outbreak of coronavirus will impact consumer demand, resulting in decline in export of polished diamonds. Diamantaires in Surat says that Coronavirus outbreak in China and Hong Kong will affect their business, and have a negative impact on the diamond industry of India and bring them a loss of around Rs 8,000-10,000 crore in the next two months.