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India Preparing Measures to Raise Direct Purchases of Russian Rough

Sep 28, 2015 2:58 PM   By Rapaport News
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RAPAPORT... India’s diamond industry is preparing proposals to increase direct purchases from Russia’s ALROSA, according to several media reports.

The move follows agreements reached by Indian Prime Minister Narendra Modi and Russian President Vladimir Putin in December when ALROSA had signed 12 contracts for the direct supply of diamonds to Indian companies.

India is mulling the possibility of introducing a formula for fair rough diamond prices to which ALROSA and Indian diamond manufacturers would adhere in their pricing policies, according to Rough & Polished. One of the possible steps would be to introduce governmental guarantees for the purchase of Russian diamonds to be supplied to the largest Indian diamond manufacturers.
Tags: Alrosa, India, Rapaport News
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