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Russia emerges as chief supplier of rough diamonds
19 Jun '07
1 min read
In order to meet the increasing the demands of Diamond, Indian companies have started looking for new exporters of these precious stones. Russia seems to have emerged as one of the prime suppliers.
India buys around diamonds worth US $8 billion annually and importers are placing orders of around $10 to $12 million of diamonds directly from Russia each month. Purchases are made from Russian firms such as Alrosa and Gokhran.
When Fibre2fashion contacted Chairman Sanjay Kothari of Gems and Jewellery Export Promotion Council (GJEPC), he explained “With sale of roughs from DeBeers going down and mining companies being ready to supply directly, we are looking for more supplies of rough directly.”
He also informed “We have also formed a company named Diamond India Limited with 60 top exporters in the year 2006. Through DIL we expect to receive supplies of rough directly from mining countries at reasonable prices. So far we are successful in receiving continuous supply from Russia”.
India buys around diamonds worth US $8 billion annually and importers are placing orders of around $10 to $12 million of diamonds directly from Russia each month. Purchases are made from Russian firms such as Alrosa and Gokhran.
When Fibre2fashion contacted Chairman Sanjay Kothari of Gems and Jewellery Export Promotion Council (GJEPC), he explained “With sale of roughs from DeBeers going down and mining companies being ready to supply directly, we are looking for more supplies of rough directly.”
He also informed “We have also formed a company named Diamond India Limited with 60 top exporters in the year 2006. Through DIL we expect to receive supplies of rough directly from mining countries at reasonable prices. So far we are successful in receiving continuous supply from Russia”.
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