India's Rough Import Ban Continued?

Manufacturing
24/06/2020 14:24

According to Business Standard, the voluntary moratorium on rough diamond imports into the country, might be extended, citing spokespersons of the GJEPC saying that inventory levels remain high, estimated at 2.3 billion US$, with no need for imports to resume as "it would take another two or three months to service previous orders". The article further adds that the Indian diamond trading and cutting industry is facing several other challenges such as constrained access to financing, overdue payments, and a surge in COVID-19 cases in polishing factories in the Surat region, already causing three big factories to be shut on government orders after multiple outbreaks of COVID-19 among diamond workers.