Surat’s diamond polishing and exporting units are turning to domestic sales after struggling to prove to their US buyers that the precious stones are not sourced from Russia, which is
As US buyers check for source, Surat diamond industry changes sales plan
Polishing units shift focus to domestic business as American clients shun Russian stones and company partly owned by the Kremlin comes under sanctions.
 "diamonds")
Premium
To prevent complications with US buyers, the Surat industry plans to use Russian rough diamonds for the domestic market while focusing on rough diamonds sourced from other regions to polish for the US market.
Topics : Stock Market Diamond industry Surat USA stock market trading Top Business Headlines MARKETS TODAY
First Published: May 26 2022 | 8:04 PM IST
Key stories on business-standard.com are available only to BS Premium subscribers.
Register to read more on Business-Standard.com
