The Indian diamond trade has revised its appeal to rough diamond importers and now recommends to hold back imports from June 1 instead of from May 15. This is to give rough importers sufficient time to complete outstanding shipments.
As a result, GJEPC and the trade organizations have now recommended that members refrain from rough imports from June 1 until June 30. Further course of action will be decided by the end of June.
In our news column on April 23, we had reported that The Gem & Jewellery Export Promotion Council (GJEPC) of India, the Bharat Diamond Bourse (BDB) and other trade organizations had appealed to rough importers to voluntarily reduce rough diamond imports from May 15, to help preserve inventory value and maintain the strength of the Indian diamond industry.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
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