SDA Trying to Counter Rumors and Negative Sentiment Following Defaults
July 05, 15
(IDEX Online News) – The Surat Diamond Industry (SDA) has announced it is attempting to create a more positive atmosphere in the Indian industry by encouraging diamantaires and manufacturers to avoid scaremongering and listening to rumors, according to reports in the Times of India (TOI).
According to the newspaper, there is a negative feeling in the market following a series of defaults over the past few months. However, that feeling is being compounded by rumors being spread about firms that are operating normally.
"There are negative sentiments in the market due to the defaults by certain diamond merchants and firms in the last few months,” said SDA president Dinesh Navadia,” as reported by TOI. “It is worrisome that few mischief mongers have started spread rumours on the weak financial health of certain firms and merchants."