FORTNIGHTLY MARKET REPORT
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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India Introduces Eight-digit HS Code For Synthetic Rough Diamonds

India has become one of the early adopters of distinct HS Codes for both rough and polished synthetic diamonds with the finance minister Nirmala Sitharaman introducing an amendment to create a separate eight-digit code for laboratory-grown rough diamonds as part of the Finance Bill presented before Parliament on July 5th, 2019.

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