This will bring down the cost of rough diamonds from Botswana for Indian diamond processors

xChennai: Botswana government has agreed to sell the rough diamonds mined by its miner ODC to be sold directly to India, avoiding the third-country trading hubs. This will bring down the cost of rough diamonds from Botswana for Indian diamond processors.

India and Botswana are in the process of eliminating the multi-layered system that benefits neither miners nor processors. Currently, rough diamonds are auctioned in third country trading hubs like Dubai, Antwerp and Israel, inflating prices before reaching Indian processors. This also reduces profits margins for mining companies.

Further, smaller manufacturers in India face barriers to primary markets and pay heavy premiums in the secondary mar

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