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.


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.

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

Also Read

How is Ukraine crisis taking away the shine of Surat's diamond industry?

Polishing industry faces production cut amid delay in rough diamond imports

Buying a diamond? Get a fix on the four Cs before you pick up a fiery stone

Russia impact: Surat diamond industry stares at massive job losses in June

TMS Ep176: SC on GST, diamond industry, volatile markets, delimitation

WEF calls for recreating a win-win world as annual Davos meet ends

WEF 2022: Globalisation's cheerleaders grasp for new buzzwords at Davos

Govt relaxes norms for ministries in bid to push public expenditure

Back to snow: World Economic Forum reverts to Jan for 2023 annual meeting

Gold prices drop as May policy minutes confirm Fed's tightening path

First Published: May 26 2022 | 8:04 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to