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Israel Urges India to Reduce Diamond Tax

5% import duty damages trade, says Yoram Dvash.
Jul 3, 2018 8:38 AM   By Rapaport News
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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
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