Finally, there is some glittering news for the recession-hit diamond industry. World's leading diamond group De Beers has declared that it will ramp up diamond production by 80 per cent in the second quarter, in the anticipation that the sales during Christmas this year will be better compared to 2008.

Chandrakant Sanghavi, regional chairman, Gems and Jewellery Export Promotion Council stated:

The Indian Gems and jewellery industry is certainly looking up to the better Christmas season in 2009. The rough diamond stocks have come down to reasonably acceptable level and the cutting and polishing centres needs more raw material to come in.

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