The Conversation (0)
Mineweb reported diamonds being exported and imported into the country repeatedly has slowed due to increased import duties.
Mineweb reported diamonds being exported and imported into the country repeatedly has slowed due to increased import duties.
As quoted in the market news:
India’s polished diamond trade saw a sharp decline in February following the imposition of a2% import duty by the Indian government on polished diamond imports on January 17, 2012. Imports of polished diamonds have fell by 80% to $476.2 million by value during February. The Gems and Jewellery Export Promotion Council has termed it a “very healthy” sign, despite the fact that the volume of exports sank 55%.