The Gem & Jewelry Export Promotion Council (GJEPC) former chairperson Sanjay Kothari has proposed a levy on rough diamond sales to fund the marketing of global diamonds.
He made pitched the idea during a panel discussion at the 35th World Diamond Congress in Mumbai early this week.
Idexonline quoted Kothari as saying that large mining companies should pay a levy on all rough diamond sales they made.
He said GJEPC had already imposed a levy for all polished diamond exports from India to fund its domestic promotional campaign.
It remained to be seen whether diamond producers such as ALROSA, De Beers and Rio Tinto would accept such a plan.
The miners were already saddled with huge tax bills in countries (mostly Africa) they operated in.
De Beers recently announced plans to kick-start a marketing campaign in India’s Mumbai to promote diamond jewelry.
The company had previously targeted Chinese and Japanese markets.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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