Diamond Trade

Prime Minister Narendra Modi on Thursday said once the Diamond Research and Mercantile (DREAM) city project is completed, Surat will emerge as the safest and convenient diamond trading hub in the world. Addressing a rally after laying the foundation stone and inaugurating a host of projects here in Gujarat, Modi said in the last 20 years Surat has progressed by leaps and bounds. Remembering the struggle to get an airport in Surat city, Modi said they (when he was the chief minister of Gujarat) got tired in explaining the need for an airport here to the then UPA government. Now, many people come and go from the airport here and it has helped in the city's development. This is the benefit of the double engine government, he said. Modi said many families are dependent on the diamond and textile industries of Surat. "Surat will emerge as the safest and convenient diamond trading hub in the world once the DREAM city project is completed," Modi said. He also said that more than four cr

Many in the industry refuse to deal in Russian gems following the invasion of Ukraine and after mining giant Alrosa PJSC was hit with US sanctions

Western markets fear recession and domestic business is uncertain ahead of festival season later this year

With some mines in Botswana being put to work, rough diamond trade could ease by 10% amid US sanctions on Russia's Alrosa which commands 27% global supply

The boom is being driven by bumper holiday jewelry sales, particularly in the vital US and Chinese markets.

Workers pelted stones at the office of Diamond Bourse and demanded that they should be sent back to their native places

The blossoming popularity of lab-grown diamonds - and production in China and India - is another potential headwind for miners of natural gems

KP is a joint initiative of different countries, industry and civil societies to control flow of conflict diamonds

We see some sightholders moving while new ones come in as a healthy sign, says Bruce Cleaver

Polished diamond was one of the worst-performing commodities in 2017

The exchange has kept the trading and delivery size low to attract all types of business units