Govt to help set up international diamond exchange

The Centre would facilitate the setting up of an in the country, according to Union minister of commerce and industry, Kamal Nath.
 
Speaking on the sidelines of the international diamond conference, Mines to Markets, he said, "My ministry is working closely with the industry to make India an international trading centre for diamonds. Considering that we are the largest purchaser of rough diamonds, there is no reason why India should not have an international diamond trading centre at par with centres in Belgium, Israel and Dubai."
 
He revealed that the government is keen to ensure that the market does not face the heat of the supply shortage in diamonds, and the centre is looking to open up the process for Indians wishing to source diamonds from abroad.
 
He said, "We are quite open to the idea of entering into economic co-operation agreements with countries, especially of Africa that ensure the supply of rough diamonds to India while bringing value and investment in other areas to supplier countries."
 
The project is slated to take shape by the end of 2005. Bakul Mehta, chairman of the Gem and Jewellery Export Promotion Council (GJEPC) said that the International Diamond Exchange is likely to be set up in Mumbai.
 
Nath also said that the passing of the by the parliament provides a superb opportunity for investors to set up enterprises in areas that will have world-class infrastructure and generous tax concessions.
 
Cut an polished diamonds account for over 75 per cent of the total exports of gem and jewellery from India.

 
 

image
Business Standard
177 22
Business Standard

Govt to help set up international diamond exchange

Our Commodities Bureau  |  Mumbai 

The Centre would facilitate the setting up of an in the country, according to Union minister of commerce and industry, Kamal Nath.
 
Speaking on the sidelines of the international diamond conference, Mines to Markets, he said, "My ministry is working closely with the industry to make India an international trading centre for diamonds. Considering that we are the largest purchaser of rough diamonds, there is no reason why India should not have an international diamond trading centre at par with centres in Belgium, Israel and Dubai."
 
He revealed that the government is keen to ensure that the market does not face the heat of the supply shortage in diamonds, and the centre is looking to open up the process for Indians wishing to source diamonds from abroad.
 
He said, "We are quite open to the idea of entering into economic co-operation agreements with countries, especially of Africa that ensure the supply of rough diamonds to India while bringing value and investment in other areas to supplier countries."
 
The project is slated to take shape by the end of 2005. Bakul Mehta, chairman of the Gem and Jewellery Export Promotion Council (GJEPC) said that the International Diamond Exchange is likely to be set up in Mumbai.
 
Nath also said that the passing of the by the parliament provides a superb opportunity for investors to set up enterprises in areas that will have world-class infrastructure and generous tax concessions.
 
Cut an polished diamonds account for over 75 per cent of the total exports of gem and jewellery from India.

 
 

RECOMMENDED FOR YOU

Govt to help set up international diamond exchange

The Centre would facilitate the setting up of an international diamond exchange in the country, according to Union minister of commerce and industry, Kamal Nath.
The Centre would facilitate the setting up of an in the country, according to Union minister of commerce and industry, Kamal Nath.
 
Speaking on the sidelines of the international diamond conference, Mines to Markets, he said, "My ministry is working closely with the industry to make India an international trading centre for diamonds. Considering that we are the largest purchaser of rough diamonds, there is no reason why India should not have an international diamond trading centre at par with centres in Belgium, Israel and Dubai."
 
He revealed that the government is keen to ensure that the market does not face the heat of the supply shortage in diamonds, and the centre is looking to open up the process for Indians wishing to source diamonds from abroad.
 
He said, "We are quite open to the idea of entering into economic co-operation agreements with countries, especially of Africa that ensure the supply of rough diamonds to India while bringing value and investment in other areas to supplier countries."
 
The project is slated to take shape by the end of 2005. Bakul Mehta, chairman of the Gem and Jewellery Export Promotion Council (GJEPC) said that the International Diamond Exchange is likely to be set up in Mumbai.
 
Nath also said that the passing of the by the parliament provides a superb opportunity for investors to set up enterprises in areas that will have world-class infrastructure and generous tax concessions.
 
Cut an polished diamonds account for over 75 per cent of the total exports of gem and jewellery from India.

 
 
image
Business Standard
177 22

LIVE MARKET

BSE

  ( %)

NSE

  ( %)

Widgets Magazine

More News

STOCK WATCH

Company Price() Chg(%)
H P C L 930.90 9.81
Finolex Cables 334.05 9.43
B P C L 1010.85 9.12
Prestige Estates 184.75 8.84
Lycos Internet 18.95 7.67
> More on BSE Gainers
Company Price() Chg(%)
Finolex Cables 337.00 10.20
H P C L 931.65 9.65
B P C L 1012.00 9.19
Prestige Estates 184.20 8.29
Reliance Power 52.25 7.40
> More on NSE Gainers
Company Price() Chg(%)
Novartis India 724.80 -12.45
Vaibhav Global 267.80 -6.15
Fortis Health. 164.05 -5.56
R C F 43.05 -5.49
Essel Propack 184.25 -4.41
> More on BSE Gainers
Company Price() Chg(%)
R C F 43.05 -5.38
Fortis Health. 164.00 -5.28
VRL Logistics 276.80 -4.83
Vaibhav Global 267.70 -4.77
Ruchi Soya Inds. 22.20 -4.72
> More on NSE Gainers
Widgets Magazine
Widgets Magazine
Widgets Magazine

Derivatives

Index
Instrument Type
Expiry Date
Option Type
Strike Price

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard