Commerce ministry to reconcile data conflict on polished diamond import

A controversy has been created after two entities under the Union ministry of commerce have reported differing figures for import of cut and polished diamonds for April-November 2017, first eight months of the financial year.

Kolkata-based Directorate General of Commercial Intelligence and Statistics (DGCIS) reported $6.3 billion. The other agency, Gems and Jewellery Export Promotion Council (GJEPC) showed net import at $1.5 bn.

The ministry has called a meeting with both on the coming Thursday.

India is traditionally a major exporter of polished diamonds. GJEPC says of the polished diamonds import, $4.9 bn was returned unsold and that cannot be considered an increase