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Diamantaires look at African countries for exports

Published

5 years ago

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Diamantaires and jewellery manufacturers in Surat are betting big on African countries now. African consumers, especially women, have shifted to diamond jewellery whose annual sales are pegged at $8 billion.

President of World Diamond Council, Stephane Fischler stated at the recently held Russian-Africa summit that the diamond-producing countries in the African continent received about $8.1 billion, or 9.5% of the $85.9 billion worth revenues

Industry sources said that almost 60% of the import of rough diamonds comes from about 15 African countries including Botswana, South Africa, Angola, Namibia, Congo, Zimbabwe, Guinea, Ghana, Congo, Lesotho etc. However, lately, the consumers in African countries have shown interest in diamond jewellery and there is a huge scope of
marketing of polished diamonds.

 

CEO of the Surat Hira Bourse (SHB), KK Sharma said, “The export of polished diamonds and jewellery to African countries has visibly increased from Surat in the last couple of years.”

 

Sharma added, “Finished diamond jewellery in silver and gold are exported from Surat to African countries, mainly in Botswana, Ghana, Namibia and South Africa.”

 

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Deputy CEO of Surat Special Economic Zone, Ajay Sharma said, “There is a direct export of polished diamonds and jewellery to Africa from the units located in the SEZ. Jewellery made out from gemstones is also doing good in African countries.”

 

A diamond exporter asking anonymity said, “We have a very close business ties with the importers in South Africa. Every year, we have been supplying diamonds worth Rs 100 crores. From next year, we are planning to achieve 50% growth in our annual supply.”
Courtesy: TOI
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