In an interesting development, several Indian diamond processing units have started setting up their production centres in Botswana, with the African nation emerging as the biggest destination outside India for diamantaires to set up their production centres. Around 20 companies, including all the 12 DTC sightholders of Surat, have set up their polishing and manufacturing units in the southern African country.
Why Indian companies are flocking to Botswana
Botswana is an important country for the diamond industry as it mines around 30% of the global diamond supply, with the diamonds mined there being bigger in size than those found in other parts of the world. The African nation is offering several perks to Indian companies for setting up their units, including supplying natural roughs in requisite quantities. In return, Indian companies are bringing capital to Botswana, and also training the local populace and providing employment opportunities to it.
Says diamond baron Govind Dholakia, Founder and Chairman, Shree Ram Krishna Exports, “Moving to Botswana is advantageous to Indian companies as roughs can be procured directly from De Beers and ODC (Okavango Diamond Company). Thus, more quantities of raw material can be obtained without much hassle. Being there also helps us to easily provide all the traceability information that today’s aware customers demand.”
This story is from the July - August 2022 edition of Diamond World.
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This story is from the July - August 2022 edition of Diamond World.
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