Direct government deals likely to procure rough

AN Indian joint-venture with Alrosa may be on the cards this year. Indian Minister of State for Commerce Jairam Ramesh has stated that efforts are underway to tap rough diamond sources for the Indian diamond-processing industry through government-to-government deals according to reports.

Towards this, Ramesh says he has had detailed discussions over the past three months with the ambassadors of a number of countries including Russia, Canada, Australia, South Africa, Namibia, Lesotho, Botswana, Ghana, Angola, Azerbaijan, Armenia, Uzbekistan and Venezuela

For the African nations, Ramesh stated that India is offering technical assistance to build local industry, including expertise to help some of these nations comply with the requirements of the Kimberley Process in return for direct access to rough diamonds. The minister�s statements come in conjunction with the release of the Gem and Jewellery Export Promotion Council (GJEPC) �Vision-2015� roadmap for the industry. It outlines threats and opportunities in great detail. Growing competition from China, the rise of new materials like palladium and steel, the development of synthetic diamonds, consolidation in the world diamond industry and the growth of new cost-effective cutting techniques are all part of the roadmap�s future scenario.