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India's share in world diamond trade is just 0.02 per cent

India's share in world diamond trade is as low as 0.02 per cent in spite of the fact that diamonds first originated in Golkonda in Hyderabad, Andhra Pradesh, and 28 among the world's best 100 diamonds are available in India.

The low share of Indian diamond business in the global trade was given a serious thought at an interactive session of the women's wing of the Indian Merchants's Chamber. During the deliberations it was concluded that the diamonds and diamond products by Indian businessmen are not standardised and do not have resale value.

''If you want to sell off a diamond, the resale value will be very less and even the diamond merchant will not hesitate to say that the diamond is fake,'' a women's wing spokesperson Vaijayanti Pandit said.

According to a study conducted from 1982-87, gold has appreciated by 320 per cent and diamonds by 540 per cent. Diamonds have a 12 per cent growth rate and are expected to grow at 25 per cent.

UNI