Indian Jewelry » Diamond Expoters India

India is now the largest exporter of cut and polished small diamonds in the world. It accounts for nearly 60 per cent of the world sales carat wise, 80 per cent value wise and 90% piecewise. India runs a very large diamond cutting and polishing industry which engages more than a million artisans (This figure fluctuates seasonally and according to market demand too). Indian artisans are especially known for cutting and polishing very small diamonds. Nearly thirty to forty per cent value addition accrues from the exports of diamonds after cutting and polishing them, bringing in substantial foreign exchange for India.

Scattered Mining:
Mining of precious minerals and metals is a mixed undertaking in India. While the exploration of the diamond and gold deposits was nationalized and is currently being done mostly by the public sector, colored gemstones are mined in the private sector. In yet another arrangement, the public sector leases out small mining areas to individuals, as being done in the diamond belt of Panna and Orissa, or entire mines to private firms, as was done in the case of emerald mines of Rajasthan. Some mining is also done clandestinely as prevalent in Orissa, and the remote tribal areas of Madhya Pradesh, which yields colored gemstones and some diamonds too.

The National Mineral Development Corporation (NMDC) looks after nationalized precious exploitation, including silver. Diamonds, both gem and near-gem grade, which the NMDC collects, are put up for sale by auction periodically at different centres. Over two hundred such auctions have been held so far.

In its latest mining policy, the Government of India has thrown open the diamond, gold and platinum mining fields to the private sector.