The diamond industry has
decided to temporarily suspend all import of rough diamonds to limit
the impact of the global meltdown on the industry. The decision was
taken by the Gem & Jewellery Export Promotion Council (GJEPC) at a
meeting held two days back.
The council has asked its members to stop importing diamonds
in the rough for five weeks, beginning November 25. “We have decided
not import rough diamonds from November 25 to December 31. We have
asked our members to act accordingly,” said Vasant Mehta, chairman of
GJEPC. He further said that stopping of imports will cause fewer roughs
to enter the diamond pipeline and give manufacturers an opportunity to
clear older stocks.
Source : sify.com