Halt India's Diamond Imports for Three Months after COVID-19, says Even-Zohar

By John Jeffay / April 22, 2020 / www.idexonline.com / Article Link

(IDEX  Online) - India's government should halt imports of rough diamonds to help its cutters and polishers recover from the COVID-19 crisis, says industry veteran Chaim Even-Zohar.

In an exclusive and far-reaching Memo for IDEX Online he proposes a three-month moratorium to help over-stocked producers stuck in the "uncomfortable mid-stream" to shift existing inventories totalling up to $7bn.

He accuses India's banks of giving up on the diamond sector and blames sightholders for contributing to its "choked" inventories with their monthly rush to De Beers and Alrosa.

"India needs to sell for a couple of months only from inventory," he writes. "This will reduce their banking debts, bankers may warm up to the novel idea that the industry is bankable, and the overall health of the industry will certainly improve dramatically."

Click here to read the full Memo.

Recent News

Gold stocks weaker but outperform slump in other sectors

October 13, 2025 / www.canadianminingreport.com

West Africa-focussed Robex and PDI to merge

October 13, 2025 / www.canadianminingreport.com

Gold stocks outperform equity market gains

October 06, 2025 / www.canadianminingreport.com

Most major producers rise but TSXV gold mixed

October 06, 2025 / www.canadianminingreport.com

Platinum, palladium, copper gain on green China, supply constraints

September 29, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok