Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

09 december 2024

Russian envoy urges India to become a rule-maker on diamond certification at VGGS

15 january 2024

Speaking at the seminar at the tenth edition of the Vibrant Gujarat Global Summit (VGGS) on 11 January 2024, Russian Ambassador to India, Denis Alipov, highlighted that a talking point at business meetings with Indian firms has been “the current difficulties in the diamond industry because of the sanctions against Russia.

"India should transition to becoming a “rule-maker” as far as diamond certification is concerned, Alipov has urged the country. The remark comes as diamonds mined in Russia continue to face sanctions amid the Ukraine war, as per a report in The Indian Express.

Recently, the G7 countries imposed a ban on all Russian diamonds from January 1 and are expected to mandate a traceability-based certification for rough diamonds within the G7 nations later this year.

“What I said was that the point of Viksit Bharat, which is the target India has set for itself… It is also about India transiting from ‘rules-consumer’ to the ‘rule-maker’. We spoke about the certification of diamonds, which is also part of the problem with sanctions and I floated the idea that it is high time that India becomes the rule-maker and why not become the leader in certification, why not consume the certification system that is in place and created by those who impose those sanctions. The way forward is very clear in my opinion… to create our own rules, to establish direct relations beneficial for India as a leader in cut diamonds, gems, and jewellery production and for the benefit of Russia as a major hub for the diamond exporters,” Alipov said.

Alipov outlined that the international north-south transport corridor (INSTC) is a vital priority area for Russia. Gujarat is “well positioned to play a greater role in the development of this North-South corridor infrastructure,” he stressed, “especially with the aggravation of the conflict in the Middle East,” with Mundra and 48 other smaller ports making up 40 per cent of India’s sea freight traffic. "The INSTC, on the other hand, has been operational and we are looking at its expansion. In my view, this is a very promising route to Europe, through Iran and Russia.”

Alexander Rybas, Trade Representative of Russia in India, said, “In the recent years, the Russian economy constantly has to overcome new challenges. First, it was Covid, which led to logistic disruptions. Last two years, the global economy faced a more serious test. Geopolitical situations provoked systemic problems in the global markets. Slowly but steadily, the negative impact of third countries’ actions is being neutralised.”

Rybas suggested that India can “definitely capitalise on this momentum in the backdrop of Western companies withdrawing from our markets”. Urging Indian businesses to be “more aggressive” as opportunities open in the Russian market, he added that it would be in the "interest of both our countries".

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished