Marange Agreement Welcomed by Indian Diamond Trade

(IDEX Online News) – A sigh of relief in India after rough diamond exports from Zimbabwe's Marange region have been approved Tuesday by the Kimberley Process. GJEPC, the apex body of the gem and jewelry trade in India, has expressed its "relief and happiness" at the resolution.

The agreement was reached at the Kimberley Process Plenary Meeting concluding today in Kinshasa, Democratic Republic of Congo.

India is expected to be the largest benefactor from the resolution. The country is the world's leading rough diamond consumer and goods from Zimbabwe are in high demand by India's diamond polishing sector.  

“I express my gratitude to the Chair of KP, Mr Mathieu Yamba and Chair of WGM, Mr Stephane Chardon, for their special efforts in resolving the issue and moving a proposal which achieved consensus at KP," GJEPC Chairman Rajiv Jain said on the news.

"This will not only stabilize the world diamond business by encouraging the traders to keep the illicit diamonds out of the system, but will also help millions of people of Zimbabwe to derive the fruits of their diamond wealth and create strong bonding with the workers on ground in India who eke out their living from cutting and polishing of diamonds,” he added.