India Drops Rough Import Ban, Calls on Self-Restraint

03/08/2020 07:37

After months of a virtual standstill in most of India's polishing industry, the Indian diamond industry trade bodies say polishing activity in Surat is now at 20-30% capacity, and they are no longer calling on the local manufacturing sector to voluntarily ban imports of rough diamonds. In a letter to their constituents, the bodies are urging their members to apply self-restraint in buying new rough, and to continue destocking inventories to maintain a healthy supply and demand balance and "bringing price stability".