Alrosa, the Russian diamond miner, may directly sell rough diamonds at Surat’s SIDC.

Mumbai (Maharashtra) [India] October 25: IF all goes well, the Russian diamond mining giant, Alrosa, may directly sell the rough diamonds to the micro, small and medium enterprises (MSMEs) in Surat.

The Gems and Jewellery Export Promotion Council (GJEPC), the apex body of the diamond industry, has proposed the Alrosa management to form a mechanism for the direct supply of rough diamonds mined in Russia to the diamantaires in Surat.

The first high-level delegation from Alrosa in Russia visited the GJEPC headquarter in Mumbai to discuss various issues related to the rough diamond supplies in India. The GJEPC office-bearers proposed the Alrosa representative for the direct supply of rough diamonds at SIDC-Surat.

GJEPC apprised the Alrosa delegation about the newly established auction platform, ‘Surat International DiaTrade Center’  (SIDC), a special notified zone (SNZ) in the world’s largest diamond manufacturing hub in Surat. The Council proposed extending operations in SIDC Surat to the Alrosa team and requested them to conduct the auctions of rough diamonds in Surat.

The Council has put forth a recommendation for a model that would aid MSMEs to directly access rough diamonds from the world’s biggest diamond mining company.

The representatives from ALROSA included Evgeny Agureev, deputy CEO of Alrosa, Stanislav Martanus, head of customer policy center and Dmitry Amelkin, head of strategic development and polishing division, having its head office at the Bharat Diamond Bourse (BDB”

GJEPC put forward partnership opportunities for its various initiatives like Mines to Market—International Diamond Conference, Banking Summit, IIJS Premier, Signature, and other shows. The GJEPC also informed the Alrosa representatives about the various schemes launched for the workers including Swasthy Ratna”

Colin Shah, chairman of, GJEPC said, “The industry could withstand the hardships wrought by the pandemic only because of the unified work of all stakeholders in the sector – right from miners, bankers, governments, manufacturers, and retailers.”

“Our meeting with ALROSA today was an opportunity to chalk out our plans to further strengthen the industry going forward. The direct sourcing of rough diamonds would help our MSME sector in a big way. We have discussed possible ways of collaboration with ALROSA, and will soon submit a plan so that our MSME sector would secure direct access of rough from the world leader in diamond mining.” Shah said.

Evgeny Agureev, deputy CEO of Alrosa said, “I am happy to be meeting my colleagues from India in person after almost two years. From ALROSA’s perspective, India remains the most important center for manufacturing diamonds and is the third-biggest consumer of diamond jewellery as well. I’m certain that today’s discussions will further strengthen Indo-Russian cooperation in diamonds and benefit the natural diamond pipeline at large.”

ALROSA anticipates stable growth this year with an estimated diamond output of 31.5 million carats with the possibility of increasing to 33 million carats. On the topic of lab-grown diamonds, ALROSA reiterated that it would continue to focus on the natural diamond segment of the business and that it has no intention of entering the lab-grown diamond segment.

Vipul Shah, vice-chairman of GJEPC said, “It is estimated that global consumption of gems and jewellery will grow multi-fold in the coming years. GJEPC’s collaboration with ALROSA on various fronts including direct sourcing of rough would further help in serving the global gem and jewellery industry in a better and competitive manner in comparison to other segments.”

 

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