Industry body steps in to ensure rough diamond supply to polishing units

The diamond polishing industry has been reeling under falling demand, impact of the GST, and lack of working capital

At a time when the diamond industry is facing multiple challenges in terms of accumulated input tax credit (ITC), coupled with market and currency fluctuations, the Gems and Jewellery Export Promotion Council (GJEPC) has stepped in to assure continued job-work for smaller polishing units across Gujarat.

According to Dinesh Navadia, president of Gujarat chapter of the GJEPC, there are around 5,000 small and medium polishing units across the state that receive partly polished rough diamonds by larger traders from Mumbai and Surat as job-work. 

However, with the advent of 5 per cent Goods and Services Tax (GST) on job-work and the flow