Israel Urges India to Reduce Diamond Tax

RAPAPORT… Israel Diamond Exchange (IDE) president Yoram Dvash has
called for India to lower its 5% import duty on polished diamonds, claiming it
restricts trade between the two countries.



“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,” Dvash said Monday.



He made the plea to Vijay Rupani, chief minister of Gujarat,
during a recent visit to the IDE by a delegation from the Indian state. Representatives
of both parties held discussions on advancing trade connections between the
nations.



Danny Tal, Israel’s diamond controller, also attended the
meeting, as did Israel Diamond Institute chairman Boaz Moldawsky, Israel
Diamond Manufacturers Association chairman Jacob Korn and other ministers from
Gujarat. The state is home to the diamond-cutting city of Surat.



In February, India’s government increased import duty on
polished diamonds to 5% from 2.5%.

Image (left to right): Jacob Korn, Boaz Moldawsky, Vijay Rupani, Yoram Dvash