India's SRDSIL Seeking Govt Support for Rough Diamond Sourcing
Post Date: 23 Dec 2010 Viewed: 445
"We want the Gujarat government to help the diamond industry in Surat… realize the dream of direct sourcing of diamonds," a founding member of the Surat Rough Diamond Sourcing India Ltd (SRDSIL) consortium told the Times of India.
A short supply of rough stones is reportedly making things tough for Surat's diamantaires. A founding SRDSIL member told the Times that there is a "huge gap in the demand-supply ratio" and noted that one of the main reasons SRDSIL formed was to ensure that smaller-scale diamond dealers and manufacturers could have a secure supply of raw material.
SRDSIL, which was unveiled at the Mines to Market diamond trade exposition in October, had signed a $1.2 billion deal with the Zimbabwe government for a direct supply of rough diamonds in exchange for members of India's diamond industry training young Zimbabweans as diamond cutters and polishers. The deal hit a snag after the Kimberley Process reiterated the ban against export of Zimbabwe's diamonds and India's government consequently stated that it would not allow Surat to import rough diamonds from Zimbabwe.
According to the Times, a number of SRDSIL members are expected to hold meetings with Gujarat's Industries Minister Saurabh Patel sometime in the next few weeks.