Mumbai Bourse to Shut Amid Covid-19 Spike

RAPAPORT... Mumbai's Bharat Diamond Bourse (BDB) is closing until further notice after the regional government imposed a statewide lockdown because of rising coronavirus infections.The Indian state of Maharashtra has introduced a night curfew and a full weekend lockdown in response to the virus's rapid spread. The restrictions go into effect at 8 p.m. local time Monday.The BDB has asked members to collect necessary belongings on Monday and turn off their office utilities, it said in an announcement to members the same day.Maharashtra, home to more than 100 million people, has become India's Covid-19 epicenter. On Sunday, authorities announced 57,000 cases in the state, the highest for one day since the start of the pandemic. Officials had been warning that a lockdown was unavoidable if the numbers continued to increase.The BDB initially shut in March 2020 after a first Covid-19 wave that froze India's diamond industry during the second quarter and forced manufacturers to close. The sector gradually opened, with polishing factories operating at full capacity in recent months.Image: The Bharat Diamond Bourse. (Rapaport News)