According to a report by Agence France-Presse, De Beers predicts the polished diamond sales to have a 4.5 per cent rise this year. De Beers CEO Philippe Mellier told AFP that the growth is due to India and China improving their markets and the U.S. economy recovering. China, along with Hong Kong and Macau, makes up 13 per cent of the global market, according to AFP.
“The largest global market for diamond jewellery is the United States and everyone knows they are taking off again,” Mellier told AFP. “More and more Chinese are achieving the buying powerto acquire jewellery and diamonds, especially when they get married.”
He also cited India as a growing market for diamonds and the Prime Minister Narendra Modi as a defender of the diamond industry. CJ
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