Date Set For Major Diamond Producers To Sell In India Special Notified Zone

Finance and Trade
29/05/2015 10:30

The government has finally authorized miners, including De Beers, Rio Tinto, BHP Billiton and Alrosa, to sell rough diamonds in a Special Notified Zone (SNZ) in Mumbai as of July 1. “With operational guidelines in place, global miners will be able to set up offices in India which will reduce travelling time for Indian diamantaires, and also the cost of rough diamond procurement,” said Sabyasachi Ray, Executive Director, of the Gems and Jewellery Export Promotion Council.