ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Israel is not only a top diamond exporter but is also considered the most advanced in diamond polishing. Israeli technology is used in the international diamond industry’s cutting, bruting and automatic polishing machines, as well as computer-aided design systems, according to the Israeli Diamond Industry.

Detailed explanation-2: -Diamonds are cut and polished in Surat, India and the Chinese cities of Guangzhou and Shenzhen. India in recent years has held between 19–31% of the world market in polished diamonds and China has held 17% of the world market share in a recent year. Other important diamond centers are New York City and Amsterdam.

Detailed explanation-3: -Diamond cutting is the oldest industry in Israel that is the most important global centre for polishing and cutting diamonds, taking a leading position in the world for the large diamond manufacture. The country’s cutting and polishing industry is one of the top and most advanced in the world.

Detailed explanation-4: -In the beginning of the 21st century, Israel is one of the world’s three major centers for polished diamonds, alongside Belgium and India.

Detailed explanation-5: -Surat – an Agora of Diamonds. Over ninety percent of the world’s diamonds are cut and polished in India, and at the heart of this industry lies the city of Surat. Since antiquity, this port-city has exerted a gravitational pull, drawing traders to its shores and markets.