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Diamond Import: The suspension was collectively taken by the Gems and Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse, Mumbai Diamond Merchants Association, Surat Diamond Bourse, and Surat Diamond Association, to address the challenges related to the imbalance between demand and supply.
"We had engaged with the G7 to discuss such sanctions and their implementation. We have reservations on the timelines announced for the implementation of restrictions. Recognizing the diversity of our industry, we believe there should be more flexibility in these timelines,"said Vipul Shah, chairman of Gem & Jewellery Export Promotion Council on Thursday.
The circular was issued jointly on Tuesday by the Gem Jewellery Export Promotion Council (GJEPC), Bharat Diamond Bourse, Surat Diamond Bourse, Mumbai Diamond Merchants Association and Surat Diamond Association.
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