Indian diamond exporters are grappling with mounting losses and shipment delays due to new EU-G7 sanctions. They advocate for a separate screening process in India to facilitate smooth exports to Western countries. During discussions with Belgian officials, concerns over the diamond processing hurdles were raised. The sanctions, initiated in December 2023 and expanded in March 2024, have disrupted the diamond industry’s supply chain and raised costs. India’s proposal for a second screening node aims to mitigate the impact and preserve the livelihoods of millions involved in the diamond sector. Despite previous engagements, finding a viable solution remains elusive amid the sanctions’ adverse effects.
Indian Diamond Exporters Seek Solutions Amid EU-G7 Sanctions
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