India’s Minister of Commerce, Industry and Textile Anand Sharma has urged the Antwerp Diamond Bourse to establish an institutional linkage with the Bharat Diamond Bourse ‘to build the necessary capacities and develop needed skills’, reports IDEX Online cited by Israelidiamond.co.il.
The minister had led a high-level Indian business delegation to Belgium to address the Global India Business Meeting. The remarks were made as part of the Minister’s keynote speech.
Sharma assured the diamond industry that issues relating to the simplification of procedural tax would be taken up with the Indian Finance Ministry.
He added that he was confident that India’s coalition government would be able to evolve a consensus on allowing foreign direct investment (FDI) in multi-brand retail in India “very soon”.
India has rolled out a policy for 100 percent FDI in single-brand retail and the Minister said that several global majors have firmed up investment plans in this sector.
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