IGI Logo

Below The Perspective on the voluntary ban on natural rough diamond imports by Mr. Colin Shah, MD, Kama Jewelry

With the backdrop of a concurrent downtrend in diamond exports for the last many quarters and the softening of prices, this move to voluntarily ban diamond imports is a remedial measure that will help diamond traders, especially the small and medium-sized, to ease their inventories and, at the same time, help the Indian diamond industry derive a fair price. The diamond industry has incurred voluntary bans in the past with the only motive of bringing stability in the overall demand and supply dynamics and fostering the economic growth of the country by promoting robust exports. This may have some impact on the Indian diamond polishing business in the immediate phase, but will eventually be beneficial for the overall industry in the long run.”

Above views are of the author and not of the website kindly read disclaimer