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Rio Tinto to step up supply of roughs to India
26 Dec '05
3 min read
According to Rio Tinto sources, average annual production over the life of the underground mine from '08 to '18 is expected to be close to 60% of Argyle's annual production of 34m carats.
Apart from Rio Tinto, India's requirement of rough diamonds is met by Diamond Trading Corporation (DTC). Some of the popular brands in diamond trade like Nakshatra, Sangini, Arisia and Asmi are owned by DTC which is the sales and marketing arm of De Beers group.
The diamond market in India is now estimated to be $1.4bn or Rs 6,600 crore annually and is expected to top Rs 7,500 crore next year. India has emerged as the fastest growing market in terms of consumption.
However, in terms of value, US still lead the pack with a 52% market share, followed by Japan. India and the gulf region approximately consume the same quantity of diamonds.
Apart from Rio Tinto, India's requirement of rough diamonds is met by Diamond Trading Corporation (DTC). Some of the popular brands in diamond trade like Nakshatra, Sangini, Arisia and Asmi are owned by DTC which is the sales and marketing arm of De Beers group.
The diamond market in India is now estimated to be $1.4bn or Rs 6,600 crore annually and is expected to top Rs 7,500 crore next year. India has emerged as the fastest growing market in terms of consumption.
However, in terms of value, US still lead the pack with a 52% market share, followed by Japan. India and the gulf region approximately consume the same quantity of diamonds.
The Economics Times
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