India’s cut and polished diamond exports have been faltering due to weak demand from the key market, China, and they are unlikely to stabilize unless the government provides support to the industry, the head of a leading trade body said on Thursday.
China accounts for around a third of India’s cut and polished diamond exports and primarily buys through Hong Kong. The industry is in trouble, and last month it requested the government to provide a few concessions in this year’s budget so it can sail through the ongoing rough weather, he said.
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