Business Standard

Diamond processors told to curtail import of rough stones for one month

GJEPC says the move will help the industry clear inventory and ease the working capital situation


Rajesh Bhayani Mumbai
In a move aimed at protecting the interests of diamond processing industry, the apex body of the gem and jewellery industry has put forth a proposal to curtail the import of rough diamonds till June 15. This will help proessors manage the current lockdown-induced crisis banking sector’s reluctance to finance the sector.

Rough diamonds worth over $1 billion are imported every month on average, and a month's restraint will allow processing units to their pare inventories and tide over the current situation at least partially. These units are also under severe financial stress and aren't in a position to restart

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First Published: Apr 29 2020 | 4:56 PM IST

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