19 Jun 2019
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Israeli Bourse President Hosts Chief Minister of Gujarat
Agree to Work towards Increased Trade between Israeli and Indian Diamond Industries
By: Diamond World News Service
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Jul 3 2018 10:13AM
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Reference: 16486  

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(l-r) IsDA Chair Jacob Korn, IDI Chair Boaz Moldawsky, Chief Minister Rupani and IDE President Yoram Dvash
(l-r) IsDA Chair Jacob Korn, IDI Chair Boaz Moldawsky, Chief Minister Rupani and IDE President Yoram Dvash

During an official visit of a high-level delegation from the State of Gujarat, India at the Israel Diamond Exchange (IDE), bourse President Yoram Dvash and Chief Minister Vijay Rupani spoke of the close connection between the diamond communities of both countries and the growth and prosperity that it brings to both sides. They also discussed ways to improve the business ties between the two industries. 

While both sides were full of superlatives for the strong bonds between the Israeli and Indian diamond communities, Dvash pointed out the difficulties presented by the 6 per cent tax levied by India on polished diamonds. “The tax makes it very difficult for Indian diamantaires who buy polished goods in Israel and for Israeli diamantaires who wish to trade with their Indian counterparts,” said Dvash. He also told the Minister that in discussions with leaders of the Indian bourse he discovered that reduction of this tax is a common interest of both Indian and Israeli diamantaires.

Minister Rupani agreed that free trade between the two industries is of great importance to both sides and promised to look into the matter.

Chief Minister Rupani was accompanied by several ministers from the State of Gujarat, as well as India’s DCM and Head of the Commercial Wing Dr. Anju Kumar. On the Israel side, the meeting was attended by Israel Diamond Controller Danny Tal, Israel Diamond Institute Chairman Boaz Moldawsky, Israel Diamond Manufacturers Association Chairman Jacob Korn and senior Israeli and Indian diamantaires.

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