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ALROSA strengthens ties with India

On 11-12 December 2014, ALROSA and Indian Gem&Jewellery Export Promotion Council (GJEPC) co-organized the World Diamond Conference in New Dehli, India.

The President of the Russian Federation Vladimir Putin and the Prime Minister of India Narendra Modi were the guests of honor at the conference on 11 December.

The World Diamond Conference provides the market participants an opportunity to discuss some acute issues, including ways to increase consumers’ demand for polished diamonds and their confidence in this product. The leaders of the diamond industry such as De Beers, Rio Tinto, World Diamond Council, World Federation of Diamond Bourses and the largest representatives of world jewelry retail are among the participants of the conference.

Acting CEO of ALROSA Ilya Ryashchin presented the company’s development strategy and its vision of prospects and current trends on the diamond market.

The core of ALROSA’s sales policy is supplies under long-term contracts. Today the company considers candidates for long-term supply allocations for 2015-2017. On the sidelines of the conference ALROSA signed 12 long-term agreements with Indian companies, including polished diamond producers and jewelers. Direct supplies to long-term clients from India will be increased, as compared to 2014.

India is the largest diamond manufacturing center, with about 70% of the world’s rough diamonds cut in this country. Indian companies successfully cooperate with ALROSA under long-term supply contracts, as well as in the format of tenders and spot sales. In 2014, ALROSA’s rough diamond sales to the Indian companies exceeded $2.3 billion; direct supplies to India amounted to $700 million.

ALROSA places emphasis on partnering with diamond industry organizations and cooperation with clients. In April 2014, the company signed а Memorandum of Understanding (MoU) with GJEPC in order to exchange information on the current situation on the world diamond market, cooperate on Kimberley Process agenda and synthetic diamonds issues.

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