ALROSA’s management, headed by the President Andrey Zharkov, paid a working visit to Mumbai and Surat (India).
The Company representatives visited the Special Notified Zone (SNZ) that was opened last year at Bharat Diamond Bourse. The decision to set up a platform for facilitating trade and providing producers direct access to Indian market was made in 2014 following the bilateral summit headed by the Russian President Vladimir Putin and Indian Prime Minister Narendra Modi. In December 2015, ALROSA held a pilot tender at the SNZ to test the duty-free import-export system and noted high level of sales organization.
During the visit, Mr. Zharkov attended the inauguration ceremony of the International Jewelry Show Signature IIJS in Mumbai. In his address, he noted successful efforts of officials and representatives of the industry community in India to develop diamond trade in the country.
The Company’s management held working meetings with the management of Bharat Diamond Bourse and Gem & Jewellery Export Promotion Council of India (GJEPC). The parties discussed the global diamond market situation and potential prospects for further cooperation.
In Surat, ALROSA’s delegation held a number of meetings with the Company’s long-term clients. ALROSA’s representatives paid a familiarization visit to cutting and jewelry enterprises and discussed work under long-term contracts with the clients.
India is the world’s largest diamond cutting and polishing center and one of ALROSA’s key trade partners. In 2015, companies with Indian capital purchased ALROSA’s rough diamonds for the total of USD 1.5 billion, including USD 575 million direct supplies to India. The share of ALROSA’s direct supplies to India in the Company’s aggregate sales increased from 10% in 2010 up to some 17% following the results of last year.