In recent years, consumer preference for diamonds has shifted from mined stones to lab-created ones, as they offer better value and are more aligned with a younger generation's environmental morals.
India temporarily halted all imports during the pandemic, meaning it was unable to receive any goods to cut or polish, clipping the supply chain and lively halving diamond exports by 50% this year. India's import moratorium — a temporary restriction on inflow of goods — beginning March onwards meant no rough diamonds were entering the country. For that reason, the country's polished diamond exports were down 50% year-on-year and gold jewellery exports were down 80%.
While fashion industry must be struggling. No weddings or social events that are the trigger for most purchases.
Nobody needs luxuries during a pandemic when they are struggling to stay afloat themselves. It's only normal.
Has it stopped mining?
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