No ease-of-doing-business for scam-rattled diamond jewellery sector

Jewellers continue to face high import duty, lack of working capital availability and squeeze in dollar finances on rupee depreciation

India’s 23-spot jump on the World Bank's ease-of-doing business list has failed to make matters any better for the scam-rattled diamond jewellery industry, which continues to face a tough time because of the delay in goods and services tax (GST) refund, lack of bank finances, and a fall in dollar availability following the rupee depreciation.  

Banks decide credit facilities for them in rupee terms, which imply lesser dollars when the Indian currency is falling.   

The World Bank released its list on ease-of-doing-business