Have blood diamonds infiltrated India?
Post Date: 05 Feb 2010 Viewed: 505
Rumors that blood diamonds from Zimbabwe's controversial Marange diamond field have somehow found their way into India prompted Vasant Mehta, chairman of Gems and Jewellery Export Promotion Council (GJEPC), to release a statement to the contrary.
Fears that conflict diamonds infiltrated Mumbai's diamond industry were sparked by a recent statement to that effect by Pooja Kotwani, head of Rapoport-India. Rapoport is the world’s primary source of polished diamond prices and market information.
According to the Economic Times, Kotwani – whose statement came just days after Martin Rapaport, chairman of the Rapaport Group, resigned from the World Diamond Council – alleged that “blood diamonds from Marange would definitely have found their way to India, considering that India cuts 10 out of 11 diamonds sold in the world market.”
India is the world’s largest cutting and polishing center of rough diamonds.
India's Gems and Jewellery Export Promotion Council quickly denied the speculation, saying that the flow of blood diamonds into India was unlikely, as the Indian diamond industry releases diamonds into the market only after ensuring that they were duly certified under the Kimberley Process.
“The Kimberley Process is too rigorous to be doubted. India imports roughs from Africa, but only a small portion of these come from Zimbabwe and that too with KP certification,” Mehta told the Economic Times.