Gem & Jewellery Export Promotion Council of India (GJEPC), the apex body of the Indian gem and jewellery industry, has appealed to rough diamond producers to curtail the supply of rough diamonds for few weeks. This move, the Council believes will help the industry maintain stability and confidence in the current unpredictable economy.

“It is very vital that we maintain equilibrium between demand and supply and keep global stock and debt manageable during these challenging times” said Vasant Mehta, Chairman GJEPC and Vice-President, International Diamond Manufacturers Association (IDMA) in a statement. Mr. Mehta was of the opinion that with reduced supply, diamond markets would remain more stable and this reduction would benefit all the stakeholders in the long run.