Shree Ramkrishna Exports says cooperation between Russia and India in diamond industry is developing and growing

The cooperation between Russia and India in the diamond industry can be called an excellent example of how two distant countries can cooperate with each other since the whole world wears Russian diamonds, which were cut in India. Arpit Narola (Arpit Narola), a board member of Shree Ramkrishna Exports (SRK), a leading Indian diamond manufacturer, expressed this opinion on Sunday in an interview with TASS.
SRK operates in Surat in India’s western state of Gujarat, a diamond processing hub in this country. The company said the cooperation between the two countries in the diamond trade is expanding at a rapid pace.
According to the businessman, in general, the Surat diamond manufacturing industry processes from 30% to 35% of Russian diamonds. A large number of rough diamonds come to India from Africa and India also has its own diamonds. The Indian diamond industry is no longer possible without precious stones from Russia.
Alexander Rybas, Russia’s trade representative in India told TASS that statistically, the Russian-Indian trade in diamonds went up 1.8 times for three quarters of 2021 compared with the same period of the previous year. “As of the end of September 2021, diamonds worth nearly $ 700 million were delivered directly from Russia to India,” Rybas said.
At the same time, it should be noted, the TASS report said, that historically, part of the Russian-Indian diamond trade is carried out through third countries, therefore, in reality, even more Russian stones entered India.
As ALROSA's representative in India told the news agency, cooperation with Indian partners goes far beyond trade relations. The ties are becoming more multifaceted - Indian customers come to Russia to set up diamond cutting facilities, and diamond manufacturing factories have already emerged in the country built with the participation of Indian capital in Vladivostok, where ALROSA also supplies diamonds.
For his part, Arpit Narola welcomes ALROSA's support during the pandemic, saying that the entire diamond industry in India received this support – supplies of rough diamonds from Russia, which gave a boost to the market.
Savji Bhai Dholakia agreed with this, saying that the supply of stones by ALROSA supported the processing of diamonds in Surat.

Vladimir Malakhov, Rough&Polished