In the beginning, various firms dominated the large-scale diamond industry of Israel.
However, in the 1970’s, Israel became the largest diamond center in the world. In fact, you can find many quality diamonds in Israel.
This country was popular for wholesale diamond centers. People from all around the world showed their interest in purchasing diamonds from Israel. Now, this country is well known for the beautiful diamond jewelry. In fact, 50% of the total gem diamonds are polished in Israel.
Due to this, Israel became more popular in the world. After 1980, Israel was considered as a marginal supplier of diamonds.
From 1980 to 1984, jewelry firms have to suffer from speculative stockpiles, which ultimately resulted in the development of many small firms in the Israeli diamond industry.
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During this time, approximately 800 new firms were formed in Israel for diamond business.
The diamond industry of Israel imports rough diamonds from different countries of the world and export them after cutting and polishing. Around 2,000 members of Israel diamond exchange and 300 members of both Israel precious stones as well as diamond exchange supported the import of diamonds from other countries.
Later on, Israel diamond industry was considered as one of the most advanced industries in the business of diamonds. The cutting and polishing of diamonds were carried by qualified and experience workforce. With the rising business, many changes took place in the Israel’s diamond industry.
For instance, many joint ventures and foreign companies are now associated with diamond business. Diamonds designed with art technology and highly trained workforce helped to globalize the diamond industry in Israel.
Now, you can find many people interested in Israeli diamonds due to better quality and unique designs of diamonds that they get in Israel.
