India’s diamond industry plans to scale back its bank financing necessities by a third, focusing on $4 billion for the present fiscal 12 months, down from $6 billion in FY23. Traders are specializing in clearing existing inventory quite than accumulating more, which would necessitate additional borrowing. India’s CPD exports are expected to hit a five-year low in FY24 with a 25-30% dip to $15-$16 billion.
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