JOHANNESBURG (miningweekly.com) – Russian diamond miner Alrosa has opened a representative office in Mumbai, India, on the territory of the Bharat Diamond Bourse.
The office will not conduct any trading activity and will be concentrated on strengthening ties with the Indian market, the company said on Thursday.
Mumbai office director, Jim Vimadalal, would work on promoting the company’s brand in the local market, suggesting new clients and solving technical issues of existing clients. He would also be responsible for interaction with industry organisations, including discussing opportunities for business development, preventing the market from synthetic stones, studying consumer demand trends.
"India plays a huge role in the world polishing business, it is also a prospective market for diamond jewellery consumption. We see the Indian diamond sector growing, and welcome the governmental initiatives aimed at creating more comfortable and stable working environment for the industry. Of course, Alrosa is interested in expanding its presence on the Indian market and closer cooperation with industry bodies, both for trade and the entire industry development," said United Selling Organisation of Alrosa director Evgeny Agureev.
In 2017, Alrosa directly supplied to India rough diamonds worth almost $700-million. In the new contract period (2018 to 2020), Alrosa has signed 15 long-term contracts with diamond manufacturing companies in India - 14 for gem-quality diamonds and one for industrial goods.
The miner currently works with more than 100 Indian companies that buy diamonds from the spot market or auctions.