Jul 03, 2018

Gujarat CM Discusses Increased Bilateral Cooperation on Visit to Israel Diamond Exchange

The Hon’ble Chief Minister of Gujarat, Shri Vijay Rupani led a high-level delegation from the state on a visit to the Israel Diamond Exchange (IDE) last week and discussed possibilities for increasing trade and cooperation between the two centres. The CM was on a six-day official visit to Israel and interacted with the diamond community there during this period.

At the IDE, the CM and his delegation had talks with Israeli diamantaires led by IDE President Yoram Dvash. The CM spoke of the close connection between the diamond communities of both countries, the growth and prosperity that it brings to both sides and also discussed ways to enhance ties for mutual benefit.

While highlighting the many positives in the relationship, Dvash pointed out the difficulties presented by the 6% tax levied by India on polished diamonds. “The tax makes it very difficult for Indian diamantaires who buy polished goods in Israel and for Israeli diamantaires who wish to trade with their Indian counterparts,” he said, adding that in discussions with leaders of the Indian bourse he discovered that reduction of this tax is a common interest of both Indian and Israeli diamantaires.

The CM agreed that free trade between the two industries is of great importance to both sides and promised to look into the matter.

Chief Minister Rupani was accompanied by several ministers from the State of Gujarat, as well as India’s DCM and Head of the Commercial Wing, Dr. Anju Kumar. On the Israel side, the meeting was attended by Israel Diamond Controller Danny Tal, Israel Diamond Institute Chairman Boaz Moldawsky, Israel Diamond Manufacturers Association Chairman Jacob Korn and senior Israeli and Indian diamantaires.

Pic caption: (l-r) IsDA Chair Jacob Korn, IDI Chair Boaz Moldawsky, Chief Minister Rupani and IDE President Yoram Dvash after the meeting

Pic courtesy: IDE