(newindpress.com-India) - If India can claim to be cutting and polishing 9 out of 10 diamonds sold in the global market, it is thanks to the skills imparted by the Israelis who have dominated the trade for decades. "Indians learned the know-how of fine cutting and polishing from Israel, which at one time had around 35,000 people engaged in the trade," said Sanjay Kothari, chairman of India's Gem and Jewelry Export Promotion Council. Today an estimated 700,000 Indians are engaged in the diamond trade, while in Israel it is down to a few thousand. Diamonds dominate the nearly $1.2 billion bilateral trade between the two countries. Diamond trade between the two countries grew 33.8% during the January-June period from $392.3 million in 2002 to $525 million this year, according to official sources.
2003-09-12 00:00:00Full ArticleBACK Visit the Daily Alert Archive