Diamond units cut capacity by 40%

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“We do not know how the geopolitical tension will pan out in the coming days. Both the US and China are important markets for us,” said Vipul Shah, chairman of Gem & Jewellery Export Promotion Council (GJEPC). Tensions between the US and China flared in recent weeks with the US forces shooting down a suspected Chinese spy balloon off South Carolina coast and the two countries trading charges of running surveillance operations.

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