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The Diamond Complex of India in the Global Diamond Market
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The Diamond Complex of India in the Global Diamond Market
Annotation
PII
S032150750007017-0-
Publication type
Article
Status
Published
Authors
Natalia Khromova 
Affiliation: Post-graduate student, MGIMO-University
Address: Russian Federation, Moscow
Edition
Issue 11
Pages
16-21
Abstract

The diamond cutting industry of India ranks first in the world economy in terms of diamond production. In 2017, India accounted for about 80% of global diamond production in value terms. India’s current rise as the largest producer and exporter of polished diamonds occurred after acquiring the independence due to involvement in processing industrial (near-jewelry) natural diamonds, as well as the increased role of the state in the national economy, and in particular in the government regulation of India’s diamond complex. The author presumes that the system of re-sorting industrial and «near-jewel» rough diamond (suitable, unsuitable), the skill of Indian cutters combined with cheap labor (especially in the villages), the organization of work within the household helped to form competitive advantage in production and allowed India to reach the prominent position in the global diamond complex and become one of the world’s diamond centers.

Thus, by the beginning of the 21st century, India has once again become the key subject of the global diamond market. Among the main reasons for the dominance of India in the global diamond sector, the author highlights low labor costs, a favorable regulatory framework and relatively easier access to finance, as well as the fact that the Indian cutting sector has enjoyed and enjoys the powerful and diverse support of its government.

Keywords
diamond complex of India, industrial diamonds, export-import of diamonds, «Indian goods», processing diamond
Date of publication
02.12.2019
Number of purchasers
74
Views
2868
Readers community rating
0.0 (0 votes)
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S032150750007017-0-1 Дата внесения правок в статью - 03.10.2019
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References

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11. Подсчитано автором по: Gem & Jewellery Export Promotion Council, GJEPC India – https://www.gjepc.org/statistics.php (accessed 20.02.2019)

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