Varda Shine, the managing director of Diamond Trading Company, clarified some of the media news about DTC’s apparent unfair approach beginning with the selection of the new sightholder list. In her interview with Reuters, Shine said that the implication by the media that the DTC had purposefully alienated Indian sightholders from the list is not true instead rigorous and uniform standards were followed for selection, although the DTC’s existing Indian sightholders were replaced but by contenders with more competitive applications.%%Shine also responded to the concern of fewer diamond supplies, to the elected Indian sightholders, saying that the DTC would actually be supplying the equal quantity as before or even more. Also, the fear of unemployment of 150,000 workers, Shine said that, “Everyone who is losing his supply is going to be upset.â€%%She also said that the US will face a challenge to keep up in 2008 due to its housing crisis and the subprime mortgage meltdown, but markets like China and India would help refill the gap of the US economic meltdown. She predicted that polished stones would become costlier and that supplies of diamonds would be stable apart from major discoveries being made.
Be the first to comment