"Out of World's every 10 diamonds - 9 Processed in India"

[Chanakya's_Chant]

Indian companies ink pact to buy $2.1 bn diamonds from Russia

Russian President Vladimir Putin with PM Narendra Modi and Bollywood actress Sonam Kapoor lighting the lamp during the World Diamond Conference at Vigyan Bhavan.​

In a bid to create alternative import sources of rough diamonds for the Indian cutting and polishing industry, Russia's state-led Alrosa mining group has entered into direct selling agreements with 12 diamantaires for supplies worth $2.1 billion over three years.

Some of the top Indian exporters of cut and polished diamonds will benefit from the deal that is expected to create an alternative source of roughs for India, which is the world's largest hub for this industry, accounting for nearly 80 per cent of volume, officials said.

Russia is the top producer of roughs and Alrosa controls around 27 percent of global trade.

The agreements were signed coinciding with Russian President Vladimir Putin's visit in India for the 15th India-Russia Annual Summit, during which he and Prime Minister Narendra Modi also attended the World Diamond Conference.

"We are looking at steady supply of rough diamonds to India. Alrosa has decided to have 12 direct sales agreement with India companies," said Siddharth, Director General of Supplies and Disposals, the nodal government agency for procurements.

"This deal is worth $700 million per year for three years," said Siddharth, who uses one name.

Normally, the way deals in the global rough diamonds industry work is once a definite contract is signed, the buyers have to lift the specified value of consignment each year, irrespective of the fluctuations in prices, demand and supply.

India imported 163.11 million carats of rough diamonds worth $16.34 billion in 2013 and exported 36.46 million carats of polished diamonds valued at $20.23 billion. The bulk of the supplies came from the Antwerp-based De Beers, which is said to control some 40 percent of global roughs trade.

The companies that will benefit from the latest deal are Rosy Blue, Diamond India, Hari Krishna Exports, Dimexon Diamonds, Jasani Group, Asian Star, Kiran Gems, KGK Diamonds, Shri Ramkrishna Exports, Venus Jewel, Karp Group, and Sheetal Group.

Andrey Polyakov, vice-president of Alrosa, said: "Diamond business is sensitive. The main thing is to raise consumption in India and China."

It is estimated that by the end of this decade India and China together will consume 40 per cent of global diamond market and will become at par with the US, which is now leading the market.

The total amount of gems and jewellery exported from India in 2013-14 was worth $39 billion, of which $24 billion were diamond.

From Russia, with love, the diamond connect - The Times of India
Indian companies ink pact to buy $2.1 bn diamonds from Russia - Business Today
Modi Wants More Diamonds Direct From Mines in Putin Proposal - Bloomberg

 

[TimeTraveller]

Great...

 

[Maravan]

Thats really great to know....

 

[Arya Desa]

India imported 163.11 million carats of rough diamonds worth $16.34 billion in 2013 and exported 36.46 million carats of polished diamonds valued at $20.23 billion.

All that work for only $4 billion profit.

 

[mehboobkz]

The total amount of gems and jewellery exported from India in 2013-14 was worth $39 billion, of which $24 billion were diamond.

Incidentally 24 billion is entire exports of Pakistan.

All that work for only $4 billion profit.

You can not comprehend properly, or unable to do the math it seems:


India imported 163.11 million carats of rough diamonds worth $16.34 billion in 2013 and exported 36.46 million carats of polished diamonds valued at $20.23 billion.

They still have more than 100 million carats in hand.
And that's lot of money.

 

[oFFbEAT]

...those include the 'blood diamonds' from Africa.......

 

[Arya Desa]

India imported 163.11 million carats of rough diamonds worth $16.34 billion in 2013 and exported 36.46 million carats of polished diamonds valued at $20.23 billion.

They still have more than 100 million carats in hand.
And that's lot of money.

Are you an idiot? Polished diamonds are always much smaller than the stone they were cut from. That 100 million carats is waste from the cutting process.

 

[zip]

Are you an idiot? Polished diamonds are always much smaller than the stone they were cut from. That 100 million carats is waste from the cutting process.

Ya there will be wastages but I dont think that much of it ...India has huge internal market so you never know whether its for export or internal consumption

 

[vsdave2302]

Indian companies ink pact to buy $2.1 bn diamonds from Russia

Russian President Vladimir Putin with PM Narendra Modi and Bollywood actress Sonam Kapoor lighting the lamp during the World Diamond Conference at Vigyan Bhavan.​

In a bid to create alternative import sources of rough diamonds for the Indian cutting and polishing industry, Russia's state-led Alrosa mining group has entered into direct selling agreements with 12 diamantaires for supplies worth $2.1 billion over three years.

Some of the top Indian exporters of cut and polished diamonds will benefit from the deal that is expected to create an alternative source of roughs for India, which is the world's largest hub for this industry, accounting for nearly 80 per cent of volume, officials said.

Russia is the top producer of roughs and Alrosa controls around 27 percent of global trade.

The agreements were signed coinciding with Russian President Vladimir Putin's visit in India for the 15th India-Russia Annual Summit, during which he and Prime Minister Narendra Modi also attended the World Diamond Conference.

"We are looking at steady supply of rough diamonds to India. Alrosa has decided to have 12 direct sales agreement with India companies," said Siddharth, Director General of Supplies and Disposals, the nodal government agency for procurements.

"This deal is worth $700 million per year for three years," said Siddharth, who uses one name.

Normally, the way deals in the global rough diamonds industry work is once a definite contract is signed, the buyers have to lift the specified value of consignment each year, irrespective of the fluctuations in prices, demand and supply.

India imported 163.11 million carats of rough diamonds worth $16.34 billion in 2013 and exported 36.46 million carats of polished diamonds valued at $20.23 billion. The bulk of the supplies came from the Antwerp-based De Beers, which is said to control some 40 percent of global roughs trade.

The companies that will benefit from the latest deal are Rosy Blue, Diamond India, Hari Krishna Exports, Dimexon Diamonds, Jasani Group, Asian Star, Kiran Gems, KGK Diamonds, Shri Ramkrishna Exports, Venus Jewel, Karp Group, and Sheetal Group.

Andrey Polyakov, vice-president of Alrosa, said: "Diamond business is sensitive. The main thing is to raise consumption in India and China."

It is estimated that by the end of this decade India and China together will consume 40 per cent of global diamond market and will become at par with the US, which is now leading the market.

The total amount of gems and jewellery exported from India in 2013-14 was worth $39 billion, of which $24 billion were diamond.

From Russia, with love, the diamond connect - The Times of India
Indian companies ink pact to buy $2.1 bn diamonds from Russia - Business Today
Modi Wants More Diamonds Direct From Mines in Putin Proposal - Bloomberg

And most of thedimonds polished in india is in Gujarat and surat in particular.

 

[Indrani]

The total amount of gems and jewellery exported from India in 2013-14 was worth $39 billion, of which $24 billion were diamond.

Incidentally 24 billion is entire exports of Pakistan.



You can not comprehend properly, or unable to do the math it seems:


India imported 163.11 million carats of rough diamonds worth $16.34 billion in 2013 and exported 36.46 million carats of polished diamonds valued at $20.23 billion.

They still have more than 100 million carats in hand.
And that's lot of money.

LOL. That moron thinks people waste 100 million carats for polishing 36 million carats. That must be some skill according to him.

 

[mehboobkz]

Are you an idiot? Polished diamonds are always much smaller than the stone they were cut from. That 100 million carats is waste from the cutting process.

Nothing goes waste in diamond industry, the rest is sold as clusters.
Learn the trade of this industry first, then come back here.
Moron.

LOL. That moron thinks people waste 100 million carats for polishing 36 million carats. That must be some skill according to him.

He needs a knowledge punishment.

 

[Ammyy]

I am not still not able to find any thing special?

They have mines we have processing industry, this is just a contract

 

[Indrani]

I am not still not able to find any thing special?

They have mines we have processing industry, this is just a contract

You must remember, India was no where in the diamond industry once Diamonds were found in Africa. The entire industry was a monopoly of Europeans and Jews especially. The nerve center of diamond trade was Belgium. This nerve center has shifted to India now.

Antwerp's Diamond Business: Jews Surrender Gem Trade to Indians - SPIEGEL ONLINE

This is an old news though.

http://www.wsj.com/articles/SB105389295228553000

 

[mehboobkz]

Diamonds A to Z - The Diamond Industry

It takes an average of 250 tons of mined ore to produce one carat of finished diamond.

92% of diamond pieces cut in 2003 were in Surat, Gujarat, India.

The dominant industrial use of diamond is in cutting, drilling, grinding, and polishing. Most uses of diamonds in these technologies do not require large diamonds; in fact, most diamonds that are gem-quality except for their small size, can find an industrial use. Diamonds are embedded in drill tips or saw blades, or ground into a powder for use in grinding and polishing applications. Specialized applications include use in laboratories as containment for high pressure experiments (see diamond anvil), high-performance bearings, and limited use in specialized windows.

Antwerp is full of Gujarati diamond millionairs.

The rise and rise of Belgium’s Indian diamond dynasties

Jews have been displaced by Gujaratis:

 

[Viny]

Are you an idiot? Polished diamonds are always much smaller than the stone they were cut from. That 100 million carats is waste from the cutting process.

100m carats waste :o
Diamond cutting industry uses some of the most advanced technologies world to have minimum wastage.
And there is nothing called waste in diamond industry..even the powder is sold to be used in lubricants.

You must remember, India was no where in the diamond industry once Diamonds were found in Africa. The entire industry was a monopoly of Europeans and Jews especially. The nerve center of diamond trade was Belgium. This nerve center has shifted to India now.

Antwerp's Diamond Business: Jews Surrender Gem Trade to Indians - SPIEGEL ONLINE

This is an old news though.

http://www.wsj.com/articles/SB105389295228553000

Antwerp is business center, we are way to far in replacing Antwerp.
But yes India (Surat, Gujarat) is doing 90% of processing job, its more like offshore job work.
And Mumbai is trading center for diamonds, like how antwerp is.