15 Aug 2022
DiamondWorld Directory
Home |
Banks go easy on loan repayments from diamond exporters
Diamond exporters allowed time concessions on bank repayments owing to the ongoing coronavirus pandemic
By: Diamond World News Service
Mar 20 2020 7:01PM
Reference: 24828  


Companies will get more time to repay loans they take to fund overseas shipments, the Gem & Jewellery Export Promotion Council (GJEPC) said in a note to members. Owing to the coronavirus outbreak in most parts of the world, exporters’ ability to recover payments from customers has suffered in the past two months; as China and Hong Kong account for about a third of orders.

Polished-diamond shipments to all markets fell 41 per cent to $1.38 billion in February, according to data from the GJEPC. The organisation had asked the government and banks for leniency due to the slowdown and its impact on cash flow.

The pandemic has started to affect the domestic market, too, with the Bharat Diamond Bourse in Mumbai asking member companies to reduce their staff head count by 50 per cent. However, the Surat Diamond Association decided to keep the polishing industry open while implementing health precautions.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 31247
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 8548
GJEPC Chairman Interview
Views: 27440
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 38221
Promo for IJ Awards 2012 at NDTV Profit
Views: 55992
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 67546
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 21305
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 49925
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 51680
Member of:
Supporter of: