Diamond industry

Rough cut

Print edition : March 16, 2018

A worker with his tools to check the quality of polish at a diamond cutting and polishing workshop in Mumbai. Photo: Adeel Halim/Bloomberg

At the polishing department of a diamond-processing unit in Surat, Gujarat. Photo: AMIT DAVE/REUTERS

The Rs.80,000-crore diamond industry exposes banks to high risks, but it is also a sector that generates significant returns. The Nirav Modi scam is, however, expected to have a big impact on the industry.

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