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Expansion of trade in rough diamonds: new prospects for Russian-Indian relations

A meeting was held between Alexey Likhachev, Minister of Economic Development of the Russian Federation, and Depinder Dhesi, Deputy Minister of Trade and Industry of India, Chairman of the Board of Directors of the state-owned company Metals and Minerals Trade Corporation Ltd. The negotiations were also attended by representatives of the Embassy of India in the Russian Federation, the Council for the Promotion of the Export of Gems and Jewelry of India and representatives of AK ALROSA (OJSC).

Since the last 5 years of the volume of Russian-Indian trade in rough diamonds have been growing dynamically, the partners consider it necessary to further develop the partnership relations of the two countries in this area by expanding the mechanisms of interaction at all levels. Undoubtedly, this will be facilitated by the World Diamond Conference, which will be held 11-12 December 2014 in New Delhi.

As Kanwal Sibal, Ambassador Extraordinary and Plenipotentiary of India to the Russian Federation, notes, the diamond industry is an important area of ​​cooperation. “India handles 80% of the world's diamonds. And Russia is the second largest producer of this raw material in the world. India is one of the largest exporters of jewelry and gemstones. It would be possible to create a joint venture with a Russian company, for example, ALROSA, in India, which would supply rough diamonds from Russia for processing, and then the jewelry would be exported to third countries, ”says Kanwal Sibal.

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