Last updateWed, 14 Mar 2018 3pm

Bloomberg reports Russia makes plans to better compete with Indian diamond industry

bloomberg russia

Russia wants its biggest diamond miner to work more closely with the country’s top gem cutters so the industry can better compete in a market that’s dominated by Indian manufacturers.

As part of a plan to boost the competitiveness of Russian diamonds, the government wants Alrosa PJSC to offer more favorable terms to cutters including Kristall Production Corp., Russia’s largest, according to Deputy Finance Minister Alexey Moiseev. The producer, which digs more gems out of the ground than any other firm, is mostly state owned.

Read the full article at https://www.bloomberg.com/news/articles/2017-09-05/russia-plans-gem-reform-to-compete-with-india-s-million-workers