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FORTNIGHTLY MARKET REPORT
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Mumbai Market Has Eye on Hong Kong Show - There are many overseas and domestic buyers in the market and there is a clear demand for goods, but transactions have been slowed considerably due to the differences in asking and offering prices. The 5-7% increase in the price of rough diamonds at the February De Beers Diamond Trading Company (DTC) sight is the main factor in sellers’ insistence on higher polished prices.
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KP Chair For Expanding Conflict Diamond Definition
In her very first visit to India, the Kimberley Process chair Gillian A. Milovanovic from the US met with the Indian diamond industry leaders and commerce ministry officials and shared her views on several key issues that she will look into this year. Shanoo Bijlani and Regan Luis report.
The Gem and Jewellery Export Promotion Council (GJEPC) presented an overview of the Indian diamond industry during an interactive meeting with the recently appointed Kimberley Process (KP) chair Gillian A. Milovanovic in Mumbai on March 20.
GJEPC chairman Rajiv Jain and vice chairman Sanjay Kothari were joined by some 20 other dignitaries from the Indian diamond industry, Customs and top banking officials, in welcoming Milovanovic at the meeting, which was followed by dinner.
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