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Avi Paz, President of the Antwerp, Belgium-based World Federation of Diamond Bourses (WFDB), has lent support to a statement issued by India’s Gems & Jewellery Export Promotion Council (GJEPC), regarding the need to reduce the supply of roughs to the market during the coming few weeks.
Earlier, Vasant Mehta, the newly elected GJEPC Chairman and also Vice President of the International Diamond manufacturer’s association (IDMA) had in a recent statement called for maintaining equilibrium between demand and supply and keeping global stock and debt manageable during current challenging times. In expressing his endorsement to the statement, Paz stipulated that all players in the world market ought to observe caution to ensure that the industry remains healthy.