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Israeli diamond manufacturers trying to counter offshoring:

Israel's diamond manufacturers are adopting all possible measures to counter reported shifting of base by companies to countries with low labour costs, especially India, a media report said.

Amid growing concerns over reports of Israeli diamond companies shifting bases to India, Israeli Diamond Manufacturers Association President, Moti Ganz, told business daily 'Globes' that a technological response is being formulated to counter India's advantage.

An expected completion of development of an innovative diamond polishing machinery would make Israel competitive against countries with low labor costs, especially India, Ganz told the daily.

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