News

India to stop rough imports for a month

Is an effort to face the financial crisis

diamond world news service

The Gems & Jewellery Export Promotion Council has asked its members to stop import of rough diamonds beginning 25 November 2008, for a month. This move follows a decision taken by the Indian Diamond Industry to curb import of rough diamonds during the ongoing financial crisis, suggesting also to the banking system that the diamond industry is working at not increasing its indebtedness.

The Council is sure that the country has enough roughs in the market as of now to sustain and minimize the impact of the curb on the labourers. Also, the reduction will help producing companies to indirectly participate in the financial strain and consolidate efforts to help build a healthy business for the future.


Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

CIBJO Congress Pushes for Clear Distinction Between Natural and Lab-Grown Diamonds to Boost Consumer Trust

Northwest Territories Diamond Mines Unite for Charity with Unique Pendant Auction

Diamonds Do Good to Allocate Over $250,000 in Grants for 2025 Initiatives, Including New Program in India

GIA’s Fall 2024 Gems & Gemology Issue Explores Cutting-Edge Advances in Diamond Grading, AI Design, and Historic Gem Finds

Sotheby’s Geneva to Feature Rare Red and Pink Diamonds in Upcoming Auction