The Indian gem and jewellery industry has taken a unanimous decision to voluntarily halt the import of natural rough diamonds from 15th October to 15th December, 2023. This strategic move is aimed at addressing imbalance in demand and supply. This voluntary cessation of importing natural rough diamonds will not affect the processing and manufacturing activities within the industry. Additionally, factories in India traditionally observe a closure period of nearly two weeks during the Diwali festival in the second week of November.
The below letter was circulated among industry members by trade associations including the GJEPC, BDB, MDMA, SDB and SDA.
