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Israel, India eye stronger diamond trade

6 July 2018


Jacob Korn of the Israel Diamond Manufacturers Association, Boaz Moldawsky of the Israel Diamond Institute, Chief Minister of Gujarat Vijay Rupani and IDE President Yoram Dvash

 

Representatives of Israel and India are looking to further bolster trade between the two countries’ thriving diamond industries.

During bilateral talks at the Israel Diamond Exchange (IDE), IDE President Yoram Dvash and Chief Minister of Gujarat Vijay Rupani underscored the close connection between the Israeli and Indian diamond sectors. They also discussed ways to improve business ties between the two industries. 

According to Dvash, a 6 percent tax currently levied by India on polished diamonds is a challenge to the trade. “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,” revealed Dvash.

Rupani, for his part, agreed that seamless diamond trade between Israel and India is of great bilateral importance and promised to look into the matter.