 "Is GST on diamond processing an unintended gift to China?")
With the diamond industry going through a rough patch and two of its big names — Mehul Choksi and Nirav Modi — accused of fraudulent activities, the issue of illegitimate channels such as hawala and round tripping of diamonds is again gaining prominence.
India exports polished diamonds worth around $35 billion a year. It is the biggest processor of rough diamonds.
However, when imports of polished diamonds and
