jaishankar: Jaishankar raises India’s considerations over restrictions of Russian diamonds with Belgium

Jaishankar met Theodora Gentzis, the Secretary-Common of the Belgian International Ministry, right here on Tuesday.

New Delhi is worried over Western ban on tough diamond imports from Russia, the world’s largest diamond producer and the largest supply of uncooked materials for India‘s thriving polished diamond business positioned in Surat.

This 12 months, the G7 nations launched an “import ban” on non-industrial diamonds mined, processed or produced in Russia as a part of the twelfth spherical of sanctions. Since March, the G7 ban has been expanded to cowl Russian-origin diamond imports from third international locations, placing the Surat business in a repair.

In keeping with business statistics, practically 90 % of the world’s tough diamonds are polished and exported from Surat. The US has historically been the largest marketplace for diamonds polished in India.

“Their intention is to harm Russia. Nevertheless it doesn’t work that method. The producer normally finds a method. Greater than Russia, such steps have a tendency to harm these decrease within the provide chain. Our efforts are aimed toward softening, delaying or stopping that from taking place. It’s a precedence challenge for us now,” Jaishankar instructed an business occasion in Surat final week.Belgium is the worldwide hub of polished diamonds.