West Asia Conflict Jeopardizes Diamond Trade Recovery; Crisil Predicts 10% FY26 Revenue Decline, Improvement in FY27
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West Asia War Threatens India's Diamond Trade Recovery; Crisil Forecasts FY26 Revenue Dip
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CNBC TV18•13-03-2026, 17:39
West Asia War Threatens India's Diamond Trade Recovery; Crisil Forecasts FY26 Revenue Dip
•The ongoing West Asia conflict jeopardizes India's diamond trade recovery, impacting crucial supply routes and trading hubs.
•Crisil Ratings projects an 8-10% revenue decline for Indian diamond polishers in FY26, marking a third consecutive contraction.
•India imports 70% of rough diamonds from UAE and Israel and exports 20% of polished diamonds to them, making the region vital.
•GJEPC Chairman Kirit Bhansali warns of logistical challenges, increased freight and insurance costs, and disruption to significant trade with GCC countries.
•While FY27 recovery is anticipated due to a US trade deal, prolonged instability in West Asia could delay the sector's return to growth.
