India is poised to end its self-imposed suspension on rough diamond imports on December 15, driven by an optimistic assessment of improved market conditions within the diamond industry, Diamond World reports.
The decision aligns with the ongoing surge in holiday season sales in the US and a reduction in manufacturers’ inventories, creating a more favorable environment compared to when the two-month suspension was initiated, on October 15.
Vipul Shah, Chairman of the Gem and Jewellery Export Promotion Council (GJEPC), stressed the importance of careful management in handling entries into the rough supply chain. The GJEPC plans to advocate for prudence among miners and manufacturers in the wake of the upcoming resumption.
