Travel Bans Hit India's Supply of Rough

By John Jeffay / October 20, 2020 / www.idexonline.com / Article Link

(IDEX Online) - India's recovering diamond industry is reportedly running short of rough, as coronavirus restricts air travel.Demand is growing but after three voluntary trade embargoes at the peak of the pandemic, the country's collective $2.7bn inventory is "almost exhausted".Small and medium diamantaires in India can't get to South Africa or Belgium to physically inspect rough diamonds over a carat before agreeing purchases.  Many rely on twice-monthly visits to replenish supplies.Vipul Shah, vice-chairman of Gem and Jewellery Export Promotion Council (GJPEC) told the Times of India newspaper: "International flight restrictions has cast a dark shadow on the prospects of the diamond industry in Surat and Mumbai."She called on the government to allow the sale of rough diamonds in special notified zones (SNZs) to ease supply problems.India's rough diamond imports were down 57 per cent in April to September from $5.8bn in the same period last year to $2.5bn.

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