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India: Diamond Leaders Call for Government to Reopen Operations

Industry insiders in India are that customers will look elsewhere for cutting and polishing
India Gems Diamonds
Credit: David Talukdar / shutterstock.com

Diamond factory heads in India are urging their government to gradually reopen cutting and polishing operations in the country, following an extension of the nation-wide lockdown to May 17, Rough & Polished reports.

 

Jewelry store China
Credit: Iris Hortman

 

The lockdown was imposed on March 25, and extended on May 3 for another two weeks. Industry insiders in India are concerned that customers will look elsewhere for cutting and polishing; namely, in China. According to India’s Gems and Jewellery Export Promotion Council (GJEPC), customers are already beginning “to cancel their orders and go to other markets”.

 

corona virus international airport
Credit: TeamDAF / shutterstock.com

 

According to another report in Rough & Polished, Surat – a major global center of diamond manufacturing – is “sitting” on around $2.3 billion worth of polished diamond inventory since the coronavirus crisis began.



Tags: Diamonds News, Jewelry News, Diamond Industry News, India News

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