Work hard and you will find success

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Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

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Platinum’s rare nature gives it additional value and appeal

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Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

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There is a significant need for smart and technological financial solutions in the diamond industry

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Indian diamond processors flock to De Beers

09 september 2014

Indian diamond processors participated aggressively in the De Beers’ sightholders contract registration to ensure supply of rough diamonds for contractual period 2015-2018.
De Beers, which accounts for about 40 per cent of global supplies of rough diamonds, during August 25-29 called for registration from diamond processors for the period 2015 to 2018.
“Indian diamond processors are ensuring rough diamond supply which is mandatory for any business, including diamond-cutting and polishing. Therefore, participating in De Beer’s sightholding aggressively makes sense,” Vipul Shah, Chairman, The Gem and Jewellery Export Promotion Council (GJEPC) said.
According to sources, the number of Indian participants had increased 15-20 per cent compared to the registration three years ago. India accounted for more than half of the 83 sightholders nominated by De Beers for 2012-15. Of the remaining, most were Indian diamond processing groups in Antwerp (Belgium), South Africa, China and Hong Kong.
Commenting on India’s polished diamond exports declining of late, Sabyasachi Ray, Executive Director, GJEPC said, “Exports cannot decline beyond a point. Therefore, raw material surety is required. De Beers processes only 40-42 per cent of the rough diamonds they mine and, hence, Indian processors should take a long-term view.”

Aruna Gaitonde, Rough&Polished correspondent in India