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Press Release: Trade ties between India and Russia were given a boost during the World Diamond Conference in Delhi during a state visit from President Vladimir Putin. The conference was jointly organized by the Gem & Jewellery Export Promotion Council and World Diamond Mark, and supported by India's Ministry of Commerce and Industry.
At the event, ALROSA finalized a three-year contract for supplying rough diamonds directly to SRK. the agreement between the two will be in effect from 2015. The contract was signed by ALROSA's president, Illya Raschin, and SRK's managing director, Rahul Dholakia.
“The special notified trading zone is a win-win situation for both miners and manufacturers. Miners bring rough on consignment basis here and manufacturers are relieved from import compliance and looping procedures. The byproduct of this agreement is, of course, cost reduction, but will also reduce dependence on market forces," said Dholakia.
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