Express India reports that the Surat Diamond Association has appealed to the Russian Consulate General in Mumbai, Alexander Mantytsky, to enable easier access to rough diamonds from Russia.



Russia supplies over 50% of the rough diamonds produced in the world, while over 60% of the world’s polished diamonds are cut and processed in Surat. The rough diamonds generally enter the local market in Surat through Antwerp.



Several days ago, Surat Diamond Association President Rohit Mehta met Consulate General Mantytsky and asked him to establish a system enabling local diamond manufacturers in Surat to acquire rough diamond at lower prices.



Mehta noted that if an effective system is established, the diamond business will grow and both countries stand to benefit. Mehta stated that the Surat Diamond Association is prepared to set up the infrastructure for the process.



Mehta said: “The diamond business in Surat is dependent on the rough diamond market hub at Antwerp. The rough diamond from the mines passes through several hands before reaching us, which increases their cost.”



He added: “We have invited the Russian government to open an office in Surat so that the local diamond manufacturers can get rough diamonds easily. We have also advised the Consulate General to set up a nodal agency to look into this project.”