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Time For The Diamond Industry To Take A Tough Stand

The diamond industry is in grave danger. Not because demand is down or profitability has been almost completely squeezed out, but because it has lost its moral compass and is spinning out of control into free-for-all battleground where rules, decency and dependability don’t matter.

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3 Comments
I've not read a better article than this in recent times which addresses the grave dangers faced by the diamond industry. You've accurately narrowed down the 3 biggest problems which if not dealt immediately will bring the industry down in no time. This industry requires more visionaries like you to address and resolve these issues immediately for it to perform better in future. Thank you,
The industry as you rightly pointed out is going through its worst ever crisis and unless we as an industry seriously address all the 3 problems that you have highlighted, I don't see how we are all going to over come these difficult times. You are among the most respected people in our trade and we are ready to give full Support to the Council for any steps that are recommended by them to overcome these issues.Unless we all become proactive, the slide within the industry will continue....
Very Well explained, problem of Greed is spreading like "Plague" withing our industry and the true and original Diamond and Jewelry people are going to suffer heavy like you explained it may not be a problem for person going "Bankrupt" but for people who are sincere and need constant financial support to meet International competition in Export Market. Moreover Government and Financial institutions should hire people from jewelry industry who have practical working experience in order to reduce risk of frauds but not to loose trust on this huge business worth billions of Dollars.

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