Home / Knowledge / News / Fashion / Ministry of Commerce launches African diamonds initiative

Ministry of Commerce launches African diamonds initiative

24
Mar '08
Angola produces about 10% of the world's rough diamonds and is also a country with which India has been trying to establish a relationship in the oil industry since Angola is rich in oil. Namibia accounts for about 6% of world rough diamonds production. Angola and Namibia are the world's fifth and sixth largest producers of diamonds respectively after Botswana (25%), Russia (22%), Canada (12%) and South Africa (12%).

India has embarked on exploration of diamonds but it will take at least a decade before commercial deposits in states like Chattisgarh, Andhra Pradesh and Karnataka are proven and established. The diamond cutting and polishing industry will continue to be entirely dependent on imports of rough diamonds for a long time to come, Shri Jairam Ramesh said.

Shri Jairam Ramesh said that rough diamonds is not the only area where we must change our approach to Africa. He said that India's cashew processing industry—another employment-intensive industry—depends crucially on imports of over half a million tonnes of raw cashews from Africa with India's own domestic production itself being roughly of that amount.

India is now the world's largest importer of raw cashews, largest producer of raw cashews and the largest processor and exporter of cashews but that position now depends crucially on how its relationship with countries like Tanzania, Guinea-Bissau, Benin and Ivory Coast evolves, Shri Jairam Ramesh pointed out. Here too, African nations are keen on moving up the value-chain themselves and India must see this not as a threat but as an opportunity, Shri Jairam Ramesh added.

India must take care to see that it is not perceived as being interested only in Africa's raw materials and resources, Shri Jairam Ramesh said. India's is uniquely placed to respond to the challenge of building up human skills and human resources in Africa in different areas and it should leverage this to build long-term partnerships in diamonds as well, Shri Jairam Ramesh added.

Partnerships, not procurement should be our strategy, he said. And partnerships in diamonds must be embedded in the framework of broader economic and technological cooperation, he noted. That is why the diamond delegation has representatives of other public sector companies like STC, MMTC, BHEL and ONGC-Videsh as well.

Press Information Bureau Government of India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 19th Sep 2020

US firms in some sectors moving out of PRC: Goldman Sachs

Goldman Sachs has said US firms in only specific industries are...

Pic: Shutterstock

Apparel/Garments | On 19th Sep 2020

Sri Lanka's textile & garment exports down 25% in Jan-July

Sri Lanka’s earnings from textiles and garments exports decreased by...

Pic: Avery Dennison Fastener Solution

Apparel/Garments | On 19th Sep 2020

Avery Dennison’s new tag fastener degrades in soil

Avery Dennison Corporation Fastener Solutions has unveiled a tag...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Top executives, Textile industry

Top executives
Textile industry

In 10 years' time, everything will have the responsible factor integrated

Aaron Spivak,

Aaron Spivak

Canada-based Hush Blankets was founded by Lior Ohayon and Aaron Spivak to...

Herbert Guebeli,

Herbert Guebeli

Switzerland-based Sedo Engineering develops technologies for the denim...

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search