Business, Finance & Economics

China releases 12 Indian diamond traders held for smuggling


Indian diamond traders and officegoers gather near a bomb blast site at Opera House in Mumbai on July 18, 2011. Scores of diamonds have been found on the devastated streets of Mumbai's precious stone trading hub which was targeted in last week's triple bombing, an industry group said.



China released 12 Indian diamond traders it had arrested for alleged smuggling two years ago. They arrived in India around 2 a.m. Friday morning and were greeted with hugs from friends and relatives at the Mumbai airport, reports the Hindustan Times.

The 12 traders were part of a group of 22 diamond merchants arrested by Chinese customs in Shenzhen in January 2010 for allegedly attempting to smuggle diamonds into the mainland from Hongkong.

Nine traders were found guilty, and 12 were released. The Chinese authorities have appealed against the acquittal of another suspect, who is still in China.

Read more about India's diamond trade in my report on blood diamonds here.