Surat Manufacturers hit by Certification Delays

By John Jeffay / April 19, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Manufacturers in Surat are struggling as diamond certificates are delayed by India's pandemic travel restrictions.They're being forced to wait for at least two months, rather than one in normal times, according to the Times of India.The delays are severely hampering cash flow, especially for smaller operations.Buyers increasingly insist on certificates because they're unable to travel and see the goods for themselves.   Labs in Mumbai are working in accordance with Covid restrictions, and gems sent to the USA can take three months to be certified.The cycle from buying rough to selling polished has been extended from 120 days to 180, according to Dinesh Navadiya, regional president of Gem and Jewellery Export Promotion Council (GJEPC)."Due to the delay in certification, smaller companies bear the burden of interest as the payments to raw diamond suppliers have to be done in time," he said.Pic shows diamond merchants in Surat

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok