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Canadian diamond mines source for roughs

23
Feb '06
India and Canada have agreed to mutually benefit each other with the former investing in the latter's diamond mines for sourcing of rough diamonds.

This was discussed at a meeting between Commerce Minister Kamal Nath and Minister of Economic Development and Trade, Province of Ontario, Joseph Cordiano.

Kamal Nath put forward the suggestion to invest Canadian diamond mines to source rough diamonds which would be cut and polished in India for exports.

India is a foremost exporter of cut and polished diamonds in the world.

Trade between India and Canada has gone up from $685 million in 1992 to $2.13 billion in 2004 but Indian export to Canada is about 0.5 percent.


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