A price list published by Rapet , the online magazine for Rapaport Group , showed a 13 % decline in polished diamond prices since 2010 . Banks in Surat and Mumbai are lowering prices to reduce cash flow and sources have suggested Indian banks are tightening credit extended to diamond firms . Diamond prices have witnessed a biggest ever fall in the first half of 2019 ending July. Cutters in Surat have decreased the production of polished stones by 30 % and are turning to smaller stones . Babu Gujarati , the president of Surat Diamond Association , said the diamond market is in a decline and the polished diamond market has decreased to 25 % for diamonds between 0.03 and 1 carat .
A price list published by Rapet , the online magazine for Rapaport Group , showed a 13 % decline in polished diamond prices since 2010 . Banks in Surat and Mumbai are lowering prices to reduce cash flow and sources have suggested Indian banks are tightening credit extended to diamond firms . Cutters in Surat have decreased the production of polished stones by 30 % and are turning to smaller stones . Babu Gujarati , the president of Surat Diamond Association , said the diamond market is in a decline and the polished diamond market has decreased to 25 % for diamonds between 0.03 and 1 carat .