The Diamond Complex of India in the Global Diamond Market

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

Publication date

02.12.2019

Number of characters

18684

Cite

GOST	Khromova N. The Diamond Complex of India in the Global Diamond Market // Asia and Africa Today – 2019. – Issue 11 C. 16-21 [Electronic resource]. URL: https://asaf-today.ru/S032150750007017-0-1 (circulation date: 23.04.2024). DOI: 10.31857/S032150750007017-0
MLA	Khromova, Natalia "The Diamond Complex of India in the Global Diamond Market." Asia and Africa Today 11 (2019):16-21. DOI: 10.31857/S032150750007017-0
APA	Khromova N. (2019). The Diamond Complex of India in the Global Diamond Market. Asia and Africa Today (11), pp.16-21 DOI: 10.31857/S032150750007017-0

100 rub.

When subscribing to an article or issue, the user can download PDF, evaluate the publication or contact the author. Need to register.

Number of purchasers: 0, views: 1339

Readers community rating: votes 0

1. Потоцкая Т.И. Отраслевые и территориальные особенности комплексообразования на мировом алмазно-бриллиантовом рынке // Вестник БГУ. Сер. 2. 2015, № 1, с. 75-81. (Pototskaya T.I. 2015. Sectoral and territorial features of complexation in the global diamond market // Vestnik BGU. № 1) (In Russ.)

2. The Global Diamond Report 2018 / Bain & Company, Inc. 3. Артхашастра или Наука политики (перевод с санскрита В.И.Кальянов). М., Л., 1959. 794 c. (1959. Artkhashastra or science politics. M.) (In Russ.)

3. Фридман А.А., Вечерина О.П. Израиль и Индия – два полюса мирового алмазобриллиантового рынка. М., 2008. 542 c. (Fridman A.A., Vecherina O.P. 2008. Israel and India – the two poles of the world diamond market. M.) (In Russ.)

4. Медовой А.И., Галищева Н.В. Экономика Индии. М., 2009. 352 c. (Medovoi А.I., Galishcheva N.V. 2009. Economy of India. M.) (In Russ.)

5. Международные экономические отношения: реалии, вызовы и перспективы / под общ. ред. и с предисл. Л.С.Ревенко. М.., 2019. 750 c. (2019. International Economic Relations: Realities, Challenges and Prospects. M.) (In Russ.)

6. Андреева Т.С., Маршинцев В.К., Шарин П.П. Рынок технических алмазов. Якутск, 2004. 92 c. (Andreeva T.S., Marshintsev V.K., Sharin P.P. 2004. The market of industrial diamonds. Yakutsk) (In Russ.)

7. Николаев М.В. Формирование стратегии эффективного развития алмазно-бриллиантового комплекса России. Новосибирск: ИЭОПП Сибирского отделения РАН, 2013. 390 c. (Nikolaev M.V. 2013. Forming a strategy for effective development of the diamond complex in Russia. Novosibirsk) (In Russ.)

8. Галищева Н.В. Индия в мировом хозяйстве на рубеже веков: внешнеэкономические связи и внешнеэкономическая политика. М., 2013. 502 с. (Galishcheva N.V. 2013. India in the world economy at the turn of the century: foreign economic relations and foreign economic policy. М.) (In Russ.)

9. The Diamond Insight Report 2015 / De Beers Group.

10. The Global Diamond Report 2016 / Bain & Company, Inc.

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