India is the world's largest diamond processing centre. Until a few years ago, bulk of the rough diamonds which came into India were from DTC supplies. But as the role played by DTC began to change, many diamond mining countries and companies have started marketing their diamonds directly to manufacturers.
It therefore became imperative that Indian diamond manufacturers establish direct business relations with mining companies and countries. It was felt that this could be most effectively achieved by forming a consortium of diamond manufacturers with the support of the Government of India. This led to the formation of Diamond India Limited (DIL). The company plans an IPO in the near future.
The main objective of this company is to become the provider of all types of rough diamonds, not only to its members, who are all leading diamond manufacturers, but also to the Indian jewellery industry at large.
Currently, DIL sources rough diamonds from some leading diamond mining companies. It is also actively negotiating with many mining countries for the supply of rough diamonds. A lot of rough diamonds come to India via intermediaries; now DIL can access these rough diamonds directly.
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