Key Points
Kolkata: The G7 has no objections to Indian diamond traders purchasing roughs from Russia's Alrosa mines, but has drawn the line at accepting cut and polished Russian-origin stones of one carat and above...
The communication is a breakthrough for domestic diamantaires as G7's sanctions on Russian stones have been a setback for the nearly 1.5 million-strong Surat diamond industry, which is also struggling with demand and global economic slowdowns...
G7 representatives, in India during end-September to learn more about the domestic gems and jewellery industry, have cleared the air...
G7 representatives were exploring ways to help Indian diamond traders abide by the G7's sanctions on Moscow with minimal or no disruption, said Anoop Mehta, president of Bharat Diamond Bourse (BDB)..
Traders said a stone from Russia traded in Belgium will find its way to Surat, where 80% of the world's diamonds are cut and polished..
You might be interested in
5 trillion…10 trillion dollar economy, PM says govt has plans for next 25 yrs
17, Dec, 23The Prime Minister was speaking at the inauguration ceremony of the Surat Diamond Bourse in Gujarat. | Latest News India
Business Matters | How will the West’s upcoming sanctions impact India’s diamond industry?
05, Apr, 23Government data shows that India is the leader in cut and polished diamonds. India processes more than 90% of the diamonds used in jewellery worldwide. Indian exports of finished diamonds come to $23 billion annually.
India sets up global alliance to push women empowerment, gender equality
19, Jan, 24Davos [Switzerland], January 19 (ANI): In a major breakthrough, India has successfully set up a “Global Alliance for Global Good- Gender Equity and Equality” to push women’s empowerment and gender equality during the 54th Annual Meeting of World Economic Forum in Davos on Thursday. The announcement was made in the presence of the World Economic […]
New US sanctions more likely to curb Indian imports of Russian coal, traders say
29, Feb, 24By Sethuraman N R and Sudarshan Varadhan BAMBOLIM, India (Reuters) - New U.S. sanctions on Moscow are more likely than previous ones to cut Indian imports of thermal coal from Russia because they
India may lose Russian facet of diamond trade
31, Mar, 23About a week ago, officials of the US State Department and European Union (EU) alerted leading diamantaires and jewellers in Mumbai that plans were underway for harsher sanctions on diamonds originating from Russia, two persons familiar with discussions told ET.
India to become third largest economy in my third term, guarantees PM Modi
17, Dec, 23Prime Minister Narendra Modi inaugurated the Surat Diamond Bourse, the world's largest office complex, stating that India will be among the top three economies in the world during his third term. He highlighted the growth of the Surat diamond industry, providing jobs to 8 lakh people, and expressed confidence that India will achieve its economic targets.
Report: Indian companies invested CA$ 6.6 bn in Canada creating 17k jobs
11, May, 23The report was prepared by the Confederation of Indian Industry or CII, in partnership with the Canada – India Business Council and India’s High Commission in Ottawa. | World News
Top EU diplomat makes U-turn on India’s Russian oil buy, fuel exports
13, Jun, 23NEW DELHI: A month after suggesting a crackdown on India for circumventing western energy sanctions on Moscow by reselling Russian oil as refined prod.
How sanctions on Russia will change the diamond trade
06, Mar, 24New rules add up to the biggest shakeup of the industry in decades