GJEPC Calls on Diamond Producers to Reduce Supply

The Gems & Jewellery Export Promotion Council of India has requested that the country’s rough diamond traders restrain the supply of rough diamonds for a few weeks, JCK India reports.

The appeal has been made to maintain stability and confidence in the diamond market during the current economic turmoil, JCK India reports.

“It is very vital that we maintain equilibrium between demand and supply and keep global stock and debt manageable during these challenging times,” Vasant Mehta, GJEPC chairman and vice-president, International Diamond Manufacturers Association, said Thursday.

Mehta also told GJEPC to be cautious for the time being and to understand the reality in the marketplace, JCK India reports. Mehta said that with reduced supply, diamond markets would remain more stable and this reduction would be in the interest of all the stakeholders.