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Yesterday

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Israeli and Indian diamond industries to work towards increased trade

05 july 2018
The Israel Diamond Exchange (IDE) President Yoram Dvash met this week with Chief Minister of Gujarat Vijay Rupani at IDE to discuss the benefits of close connection between the diamond sectors of both countries and how to improve the business ties between the two industries, according to the press note from IDI.

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Image credit: IDI


While both sides highlighted the importance of cooperation of the Israeli and Indian diamond communities, Dvash pointed out the difficulties presented by the 6% tax levied by India on polished diamonds.
“The tax makes it very difficult for Indian diamantaires who buy polished goods in Israel and for Israeli diamantaires who wish to trade with their Indian counterparts,” he said.
Dvash also mentioned that the reduction of this tax and free trade would be of mutual interest to both Indian and Israeli diamond industries.

Victoria Quiri, Rough&Polished