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Diamonds in demand

Staff Reporter

`3-tier rotating diamond ring' unveiled at Shree Laxmi jewellery in T. Nagar

A model displays the revolving diamond ring — Photo: S.S. Kumar

CHENNAI: The market for diamond retail trade has grown by 11 per cent in the past year.

According to the Chennai Area Manager of the Diamond Trading Corporation, K. Srinath, diamonds today are really sought after items. Noting that the Indian diamond jewellery market was worth Rs.7,800 crore, Mr. Srinath said that in 1996 only 13 per cent of jewellery buyers preferred diamonds and that now nearly 56 per cent preferred the precious stone.

Retail outlets selling diamond jewellery have multiplied six times, and retail investment in diamond jewellery has increased 10 fold, he said, at a function to unveil a `3-tier rotating diamond ring' at Shree Laxmi jewellery in T. Nagar on Thursday.

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