Israel Urges India to Reduce Diamond Tax

RAPAPORT... Israel Diamond Exchange (IDE) president Yoram Dvash hascalled for India to lower its 5% import duty on polished diamonds, claiming itrestricts trade between the two countries. "The tax makes it very difficult for Indian diamantaires whobuy polished goods in Israel, and for Israeli diamantaires who wish to tradewith their Indian counterparts," Dvash said Monday. He made the plea to Vijay Rupani, chief minister of Gujarat,during a recent visit to the IDE by a delegation from the Indian state. Representativesof both parties held discussions on advancing trade connections between thenations. Danny Tal, Israel's diamond controller, also attended themeeting, as did Israel Diamond Institute chairman Boaz Moldawsky, IsraelDiamond Manufacturers Association chairman Jacob Korn and other ministers fromGujarat. The state is home to the diamond-cutting city of Surat. In February, India's government increased import duty onpolished diamonds to 5% from 2.5%.Image (left to right): Jacob Korn, Boaz Moldawsky, Vijay Rupani, Yoram Dvash