Trading giant MMTC Ltd has expanded to South Africa with the goal of facilitating a direct supply of rough diamonds for India's jewelry and diamond industries, MSN reports.

India's Commerce and Industry Minister Anand Sharma inaugurated the office, saying it would "give a boost to trade and investments."

MMTC Chairman S.S. Mann said his company was seeking to pursue bilateral business ties with African nations, especially joint ventures in the mining and rough diamond sectors. Mann added that India was interested in building partnerships with African countries, and not merely in exploiting their rich natural resources.

Mann said he saw South Africa as a gateway to the whole continent, with all its vast business opportunities.