Advanced Search

Israel Urges India to Reduce Diamond Tax

Jul 3, 2018 8:38 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

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
Tags: Boaz Moldawsky, Danny Tal, IDE, India, Israel Diamond Exchange, Israel Diamond Institute, Israel Diamond Manufacturers Association, Jacob Korn, Rapaport News, Vijay Rupani, Yoram Dvash
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
Oct 10, 2019
Diamond market quiet over Jewish holidays. Slight improvement in India ahead of Bharat Diamond Week, with
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.