The whole world is stuck by the word Coronavirus and now we understand the power of media how they influence all the businesses. India has a similar equation with China and Hong Kong where the purchase of diamonds is currently not happening which brings the market into turmoil. The governments of all the countries are closely monitoring the evolution of the outbreak which is now declared a pandemic by the World Health Organization (WHO). Countries like Botswana and India are disallowing entries from high-risk countries like China, Japan, South Korea, Italy, the USA, etc. Protocols for quarantine, social distancing, and advisory on sanitization is propagated and followed all over the world.
How long will it take to normalize the situation? I say, about 2 months to restore all that is happening. Also, the equity market throughout the world not helping the diamond market. We all have to take the situation seriously and not to panic as once the confidence is restored will see quite a lot of sales to happen. On the whole second half would see a lot of sales as the market comes back into normal.
To my readers and well-wishers, I would like to introduce you to Dr. Aarti Javeri Mehta who is my daughter-in-law, Arpan’s wife and is currently practicing in Dubai (https://www.sustain-health.net/). She is a specialist in internal medicine and an American board-certified doctor in lifestyle medicine. She has recently been on ‘The Goodness Podcast’ episode where she discusses the COVID-19 pandemic. I request you all to listen to this very elaborate and informative podcast where Dr. Aarti also breaks down the myths surfacing the Coronavirus and the precautions we all need to take. Here’s the link for the podcast