India strategizes to maintain hold on diamonds

The Chinese assault on the Indian diamond polishing business, a front opened up some months ago, has raised somewhat of an alarm in the Indian diamond industry. The Chinese have set eyes on the global diamond market and hope to dig their way into India’s 80% share of the world’s diamond cutting and polishing business.

The Indian exporters are worried that if China succeeds, eventually it could upset their hold on the industry, BizCommunity.com reports. Indians say that China was returning the favour to the African nations by supplying free health aid and infrastructure works.
Liu Jianhua, Deputy Secretary-General of Diamond Branch, the Gems and Jewelry Trade Association of China, told the Global Times recently that there were definitely no such deals or actions between China and some African nations.

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