Diamond traders seek higher tax turnover (the video is loading, may take long. Please bear with us...)
Indian diamond traders are demanding a higher turnover tax and a special package in the upcoming budget. India's overseas sales of gems and jewellery represent the country's second-largest export industry, after computer software. The Indian diamond industry employs about 700,000 people in 150,000 outlets in the diamond processing industry. The traders want the government to expedite mining to help them cope with the raw material shortage.