India Looks for Ways to Secure Rough Imports
January 01, 07
India’s position in the export of gems and jewelry is dependent on its ability to import rough diamonds, gold, and other colored gemstones. As such, the Minister of State for Commerce, Jairam Ramesh has been in regular contact with the Gems & Jewellery Export Promotion Council (GJEPC) to discuss various issues facing the jewelry industry.
In his talks with the GJEPC, Ramesh highlighted the importance of the diamond sector in particular, as it accounts for 80 percent of total exports of gems and jewelry. India imports close to $8 billion of rough diamonds annually.
In a release published today (Monday), the minister said that in order to ensure a regular supply of rough diamonds he held talks 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.