'That combination of a rising economy, a growing middle class, and a deepening love of diamonds and jewellery is what we see really doubling the market for diamonds over the next five years.'
With Valentine's Day falling on a Friday, travel is picking up as people look for quick getaways.
Suddenly, the legendary advertising line -- a diamond is forever -- is losing its shine.
'We need to see how quickly the industry comes out of the impact of the note ban.'
De Beers started a grading and inscription facility at Surat in Gujarat.
De Beers' branded jewellery is available across the world.
'We don't trade with any business where we have specific concerns,' a De Beers spokesperson said.
Despite various challenges, the past year was a good one, says Bruce Cleaver, chief executive officer of the De Beers Group, the global corporation that has been the leading one in all aspects of the diamond trade for over a century.
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
'If there is any industry that is unfit for modern corporate form it is the diamond trade.' 'But no one was asking the right questions.' 'The music was playing and so the game was on,' says S Murlidharan, former MD, BNP Paribas.
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