Glittering Stones News

The Rs70,000crore Indian diamond industry might this time lose its shine if South Africa, Botswana, Congo and Angola—between them, these African countries create 90% of world's bumpy diamonds—go ahead with their plans to levy a 5-7% export duty on rough diamonds.
India imports approximately 80% of the rough diamonds shaped in Africa; these are polished in factories in Gujarat and Maharashtra. Now, the African countries desire polishers to set up factories within their boundaries in an attempt to boost the local economy.