The Financial Express (FE) reports that the reopening of the Panna diamond mines in Madhya Pradesh will help save the diamond mining sector in India. Since most of India's diamond deposits have been exhausted, Panna will become the only operational diamond mine in India.

The Panna diamond mines are operated by the National Mineral Development Corporation (NMDC), which is subordinate to the India Ministry of Steel. The Panna diamond mines have suffered from neglect, and the NMDC has not made efforts to encourage private investments in the diamond mines.

In 2001, the Panna diamond mines were shut down due to an environmental dispute, but eventually the Supreme Court intervened and the diamond mines were reopened.

Despite the fact that diamond mining in India has almost completely ceased to function, India has a strong presence in the diamond polishing and cutting market. Seven out of ten diamonds worldwide are cut and polished in Surat and the Gujarat area.

FE stated that India should make its best efforts to mine potentially significant diamond deposits such as Panna, which is capable of providing 84,000 carats a year.