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India Calls for Direct Alrosa Supply to Small Cutters
Oct 26, 2021 10:25 AM
By Rapaport News
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RAPAPORT... India’s diamond industry has urged Alrosa to provide opportunities for smaller manufacturers to buy its rough, arguing that the miner’s current supply system favors larger customers.
Officials from the country’s Gem & Jewellery Export Promotion Council (GJEPC) met with Alrosa executives last week to push the matter, the trade group said Monday.
Alrosa sells most of its rough through long-term contracts. Smaller and medium-sized businesses cannot absorb the large values of goods involved, noted GJEPC chairman Colin Shah.
“Only the large dealers or manufacturers are able to access the rough,” Shah told Rapaport News. “We’re going to think of a mechanism where...smaller cutters can actually access this rough.”
The GJEPC used the meeting to highlight the existence of the Surat International DiaTrade Center (SIDC), which the council set up in India’s diamond-manufacturing city around a year ago. One option would be for Alrosa to hold regular sales at that center, Shah said.
Under Alrosa’s rules, companies “must meet a number of criteria in order to become a client,” a spokesperson for the miner said. “Thus, Alrosa is not able to work directly with small-sized enterprises. However, we are always open for new opportunities to improve our customers’ experience. We are in a constant dialogue with our Indian partners.”
Image: Rough diamonds. (Alrosa)
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Tags:
Alrosa, Colin Shah, GJEPC, India, Rapaport News, SIDC, Surat International DiaTrade Center
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