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India's rough imports down 62%

India's rough imports fell drastically after a voluntary ban came into force in mid-October, according to data provided by GJEPC.

The moratorium is aimed at stabilizing prices that have been in decline for the last 18 months. Imports after the ban came into force on 15 October were down 62 per cent on the first two weeks.From October 1 to 15 India imported 38,37,413 carats. The total for October 16 to 31 was 14,45,927 carats.

Sabyasachi Ray, executive director of the GJEPC, said last week that the appeal, affecting an estimated million diamond workers, was an advisory, aimed at ensuring the economic health of the diamond sector.

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