Diamond market hit by India's black money war

London

AS diamond traders descend on Botswana this week for one of the year's biggest sales, the US$14 billion industry is struggling to recover from India's war on black money.

De Beers, the world's top producer of gems, will offer customers concessions for a second consecutive buying round to support the market, according to sources.

The industry has been hit after India imposed wide-ranging currency reforms in November…