India resumes import of uncut diamondsIndia resumes import of uncut diamondsIndia’s gems and jewelery industry will resume shipments of uncut diamonds from December 15, the industry federation said.
Due to the Corona pandemic, the import of uncut diamonds was suspended for the last two years. Now, as the pandemic situation has improved, it has been decided to resume imports.
India is the world’s largest importer of uncut diamonds. Here, more than half of the world’s rough diamonds are imported.
With the resumption of imorts, India’s gemstones and jewelery sector is expected to see growth again.
Welcoming the announcement, Gems and Jewelery Export Federation of India said the resumption of imports will mark a new beginning for India’s Gems and Jewelery sector.
With the resumption of imports, India’s exports of Navratri gems and ornaments are likely to increase. Also, this sector is expected to generate new employment opportunities.
The industry has been asked to voluntarily stop importing diamonds from October 15 to reduce the imbalance between demand and supply. We believe this hiatus has helped bring stability to the beleaguered Indian diamond industry.
