Cash Is King for Diamond Market Reeling From India’s Money War

As diamond traders descend on Botswana this week for one of the year’s biggest sales, the $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 people familiar with the process, who asked not to be identified because the information isn’t public.