The demand for sparkling stones in countries like US, China and Hong Kong are increasing in high speed.

China imported more diamonds from foreign countries; of this 70 percent were exported from India against the financial crisis effect in the first half of 2009. The value of polished diamonds imported into china hits the record by $300 million in the first half of 2009 with an increase of 12.7 percent from previous year.

As per the provisional statistics of gems and jewellery export promotion council (GJEPC), the export in the month of Feb. 2010 were increased by 54.96 percent at US $2,252 million compared to US $ 1,453 million in 2009. About 60 percent of the diamonds were imported to the key destinations like china and Hong Kong.

China becomes an important market for India, especially for diamond manufacturing center in Surat. The senior functionary of gems and jewellery export promotion council (GJEPC) says that china becomes the world’s largest consumer of all jewellery including diamonds.

A recent analysis on global diamond jewellery demand by senior analyst Des kilalea with world’s top investment bank RBC capital markets in Canada, china will double its share of global diamond jewellery demand by 2015 by 16 percent. Also, it becomes the second largest diamond consuming market only after US account for about 40 percent of the total diamond jewellery demand in the world.

China’s strong position in the global diamond jewellery market, kilalea said the cities in china absorb an increase amount of rural migrants which results in increased amount of wealth. It surely increases the demand for diamonds particularly for engagement rings. Japan has been overtaken by china in the precious stone segment and the eagerness of Chinese brides to have diamonds in their wedding bands has helped prices of diamonds to recover after a terrible 2009.

Another important diamond trading made last month i.e. Cullinan Heritage Diamond, a whopping 507 carat precious stone was sold for $35.5 million to Chow Tai Fook, an Asian jewellery chain based in china.

The Hong Kong international jewellery show was a great success. The demand for diamond jewelry was great in china, India and other Asian countries said Bharat Gosai a leading manufacturer in the city.

The Antwerp World Diamond Centre announced Mumbai as the next location for an Antwerp Diamond Day. The workshop and networking event will be held on March 25th. It is considered that the Antwerp diamond day will be the highlight of the economic trade mission to be led by HRH prince Philippe of Belgium from March 20 – 27. Antwerp world diamond center CEO Freddy J. Hanard gives an overview about Belgian diamond trade and what it can offers to Indian businesses.

Dr. Jef Van Royen senior research scientist at HRD Antwerp Research will speak about the theme of “Science Supporting Confidence in Diamonds”. Werner Van Der Cruyssen, Customs Attache at Belgian embassy in India will speaks about custom formalities.

The workshop and networking event includes two and a half hour networking session for Belgian and Indian diamantaires. It will be followed by a reception in the presence of HRH Prince Philippe.

The world’s top governing bodies has disclosed the global method of colored gemstone treatment disclosure. The International Colored Gemstone Association (ICA), the World Jewellery Confederation (CIBJO) and the American Gem Trade Association (AGTA) have agreed the global system of coding at the last month meeting in Tucson, Arizona, USA.

AGTA and ICA have used two different disclosure codes and the resolution in Tucson gives the industry its first worldwide set of guidelines. All three institutions have decided to implement the AGTA’s disclosure codes for colored gemstones.

The AGTA code states that “It is practical and appropriate to disclose the gemstone treatment rather than keeping silent when there is a possibility of treating the gemstone”. Also, it offers specific advice to retailers that “When disclosing to retail consumers, all required disclosure should be made in plain language. The codes or abbreviations are not enough”.

Any traditional process rather than cutting and polishing used to improve the (color, clarity, phenomena) appearance, durability or availability of a gemstone. The colored gemstone treatment code will not be listed in CIBJO gemstone blue book.

For more information Visit AGTA website – http://www.agta.org/gemstones/agta-gim/index.html

Alrosa, the world’s largest Russian diamond mining company has signed a contract with the three Indian manufacturers in New Delhi. The president Mr. Andreyev Fyodor has signed the contract on behalf of Alrosa. The deal is to supply $490 million rough diamonds to India in the next three years. Alrosa, the Russian diamond mining company has signed its contract with Diamond India Ltd (DIL), Ratilal Becharlal & Sons (Jasanj Group) and Rosy Blue.

It is expected that this long term contract would help Alrosa to boost its sales to India as much as $1 billion or a third of the company planned output. In 2009, Alrosa sold more than $500 million of diamonds to India and in 2008 around $250 million. This year, the company plans to sell $3.2 billion worth of diamonds.

As per the terms of Mr. Praveen Shankar Pandya, chairman, DIL who signed the contract on behalf of DIL, says for a long being the diamond industry is trying to take direct supplies from Alrosa and DIL is working continuously from the last three years to achieve this. DIL is working closely with Alrosa to enchant the value addition of diamonds. DIL is formed by 60 diamond exporters and distribute its purchase among 60 committed members on regular basis and among other Indian manufacturers based on requirements.
The other two Ratilal Becharlal & Sons and Rosy Blue (India) Pvt Ltd are one among the 79 companies that are sight holders for the Diamond Trading Co. (DTC) 2008 – 2011 contract period.

Mr. Vladimir Putin, the Russian prime minister is on visit to India and Alrosa team is the part of delegation.

The American Gem Trade Association, the World Jewelry Confederation and the International Colored Stone Association have signed an agreement on global method of colored gemstone treatment disclosure within the trade.

Both AGTA and ICA have used codes to disclose treatments for decades, but the system of codes were not matching. At the prompting of ICA vice president Charles Abouchar, the team composed of representatives from AGTA, CIBJO and ICA were formed and met in Tucson this month. The aim of the committee is to reach the consensus on a global system of coding. At the meeting, it was decided that the three associates will implement the use of AGTA’s disclosure codes for colored gemstones, pending the approval of their respective boards. The codes approval at CIBJO congress in Munich completes the process.

The agreement regarding the joint modification coding system was reached at the meeting involving representatives of CIBJO, ICA and AGTA held in Tucson, Arizona, USA, on 3rd February 2010. The codes will be listed in CIBJO Gemstone Blue Book for each stone.