A specially created working group on the development of Indian diamond trade encourages the government to create special trading zones for the diamond industry, as well as to establish a fund for refinancing local diamond producers, Israelidiamond.co.il reports with reference to the Indian edition of the Financial Chronicle. The ultimate goal of this proposal is to turn India, which is already the largest diamond manufacturing center, into a global center for diamond trade.
The committee, headed by Anup Pujari, director of the International Trade Department, proposes the creation of a $ 3-5 billion bank fund that will assist Indian diamantaires in refinancing their dollar loans, the Financial Chronicle writes.
The purpose of these initiatives is the revival and revival of the diamond industry, which occupies an important place in the Indian economy and experienced a significant blow in the past year. While in 2011 India exported diamonds, precious stones and jewelry worth $ 46.2 billion, in 2012 this figure fell by 17% and amounted to only $ 38.3 billion.