3 Nov : Shri Jairam Ramesh, Minister of State for Commerce, has stated that India would be willing to share the expertise in mining technology with a focus on beneficiation and to establish diamond cutting & polishing facilities and train local people in this craft both in India and in the producing countries itself. While addressing the Sixth plenary of the Kimberley Process Certification Scheme (KPCS), here today,
Shri Ramesh further stated that India is now fully committed to working with African producers of rough diamonds to assist them to move up the value chain and offered to set up jewellery design centres. The 4-day (3-6 November) KPCS Meeting was attended by Shri G.K. Pillai, Commerce Secretary, apart from the representatives of member countries.
As regards global value chain in the diamond industry, Shri Ramesh said: “First, the direct mining cost of production is around $ 5 billion. Second, the rough production value is around $ 13 billion. Third, the value of polished from local production is approximately $ 20 billion, Fourth, the retail sales of diamonds is almost $ 70 billion. India figures overwhelmingly in the third stage”.
During his address, the Minister informed that “in the Kimberley Process, we have the privilege of having the participation of various NGOs (or what we used to call, conflict diamond NGOs). Indeed, the Kimberley Process has largely come about due to the tireless devotion of NGOs and other humanitarian organizations to rid the world of conflicts in which diamonds played a role. As representatives from governments and industry, we are indebted to these NGOs and will always have an open ear for their constructive suggestions”.
The KPCS is an international Certification Scheme that regulates trade in rough diamonds. It aims to prevent the flow of conflict diamonds, while helping to protect legitimate trade in rough diamonds. KPCS currently has 48 member representing 74 countries, with the European Community and its Member States counting as an individual participant. India is one of the founding members of the Scheme.