During the visit of Russian Prime Minister Vladimir Putin to India ALROSA will tie up contracts to deliver rough diamonds to Indian diamond cutting factories to the amount of $490 million within the next three years, the company’s spokesman told Rough&Polished.
The intention of the Russian diamond monopoly to expand its activity in the country where the diamond cutting industry employs 800 000 people was aired for the first time, when representatives of the local jewelry industry asked to open a representation office of ALROSA in their country. Recently, Vasant Mehta, GJEPC Chairman, in his interview to Rough&Polished said, “We would welcome ALROSA to open a sales office in India and sell rough diamonds directly to manufacturers.”
Apparently, the Russian company is still pursuing its strategy of long-term contracts for rough diamonds. During the visit it will sign contracts with Diamond India Ltd., Ratilal Becharlal and Sons and Rosy Blue. According to ALROSA’s President Fyodor Andreyev, within the frames of the forthcoming deals rough sales to the Indian companies will grow up to $1 billion or one third of the company’s planned output. He noted that last year ALROSA sold over $500 million worth of its production to India. Fyodor Andreyev informed that ALROSA’s output may reach 34 million carats, approximately as much as in the past year.
The company virtually did not decrease its output rate even during the crisis period and having outstripped De Beers beleaguered by a number of problems became the world's largest producer of rough diamonds.
 
Tatiana Alexandrova, Rough&Polished, New Delhi

Rough&Polished