lsquoBuild relations with American jewellersrsquo

  • | Wednesday | 11th July, 2018

We want the Indian government to allow us the same atmosphere of doing business by scrapping the import duty on diamonds,” Rapaport added. In US there is no import duty on polished diamonds and thus Indian exporters enjoy comfortable business environment. There are about 45 per cent small and medium jewellery stores in the US who have no direct access to polished diamonds from Surat. Therefore, I am recommending and asking jewellers to come with me. We want to bring those jewellers in Surat for direct trade.

SURAT: Retreating from his earlier statement calling out the American jewellers to investigate whether or not the suppliers of polished diamonds in Surat source their diamonds from legitimate sources — not from conflict zones where human rights violations are in abundance — at the JCK Las Vegas event last month, US-based Rapaport Group chairman Martin Rapaport said he wants the suppliers in Surat to build relations with people (jewellers) in America so that they can come directly to buy diamonds.Talking to TOI, Rapaport said, “It is vital for American jewellers to know where diamonds come from, not just in Surat, but anywhere in the world. Therefore, I am recommending and asking jewellers to come with me. See what is there in Surat, see the people, trust the people. If I thought Surat to be questionable, I would have said don’t come.”Rapaport added, “I am coming to Surat since 2009. Surat is the source of diamonds and a diamond market place of the future.”Asked about his plans for Surat, Rapaport said, “We want to set up a trading platform where young diamantaires will participate. There are about 45 per cent small and medium jewellery stores in the US who have no direct access to polished diamonds from Surat. We want to bring those jewellers in Surat for direct trade. We want the manufacturers of Surat to become traders and earn windfall of profits.”Rapaport stated that he has requested the Union minister of state for highways and shipping Mansukh Mandaviya to represent the central government to scrap the five per cent import duty on polished diamonds.“Rapaport has a trading platform and we export about 5,000 carats of diamonds to India. In US there is no import duty on polished diamonds and thus Indian exporters enjoy comfortable business environment. We want the Indian government to allow us the same atmosphere of doing business by scrapping the import duty on diamonds,” Rapaport added.

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