The G7 group of countries has been making a number of statements in latest weeks on wishing to regulate diamond commerce globally. How massive is the Indian diamond trade?
Authorities knowledge reveals that India is the chief in minimize and polished diamonds. India processes greater than 90% of the diamonds utilized in jewelry worldwide. Indian exports of completed diamonds come to $23 billion yearly. The diamond sector in India employs 1 million folks straight. It not directly impacts 5 million jobs.
Russian agency Alrosa sells as much as $4 billion price of diamonds yearly. US and G7 have been working to see how they might minimize off Russian provides and nullify income to them. The US Treasury Division had earlier stated that anybody coping with Alrosa would face felony fees.
How will the West’s imminent sanctions influence India’s diamond trade?
Script and presentation: Ok. Bharat Kumar
Manufacturing: Shibu Narayan
Videography: Johan Sathyadas
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