ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Polished diamonds are one of Israel’s leading export items. Today Israel is one of the world’s largest exporters of polished diamonds, and a major center for the trade in rough diamonds as well.

Detailed explanation-2: -The supply of rough diamonds to the country is provided mainly through Europe. Israel is one of the largest rough diamond trading centres in the world (Table 1).

Detailed explanation-3: -The Israeli diamond industry guarantees all diamonds are 100% naturally made and participates in the Kimberley Process, a certification scheme whose goal is to ensure no blood diamonds enter the marketplace.

Detailed explanation-4: -The reason for this is that Israeli diamantaires enjoy several advantages that enable them to offer good prices for diamonds. Israeli diamantaires have direct access to sources such as African and Russian mines, and mining giants such as De Beers, Alrosa, Petra, and others.

Detailed explanation-5: -There are no diamond mines in Israel. The stock held by the diamond institutions located in Israel come from all over the globe. What is a diamond exchange? A diamond exchange is a place where diamonds are traded.