India in Diamond Industry

JOHANNESBURG – A leading diamond trading network has commended India for moving to invest in Zimbabwe’s lucrative diamond sector but called on the Harare authorities to ensure revenue generated from gemstone sales benefits all citizens and not just a few within the ruling elite.

Diamonds

Martin Rapaport, president of the Rapaport Group that controls the Rapaport Diamond Trading Network (Rapnet), last week said that he believed India’s involvement in Zimbabwe will help to create an ethical diamond industry in the African country. “I believe in India and I believe in the goodness of its diamond people. And I believe that when all is said and done, India ’s diamond community will use their purchasing power to greatly benefit the people of Zimbabwe,” said Rapaport, whose network still prohibits members from trading in stones from Marange because of concerns over human rights abuses at the controversial diamond field.

India's Diamond - Taj Mahal

He added: “With India ’s help and responsible actions, I pray that Marange diamonds can and will be a blessing for the people of Zimbabwe and the people of India.”? Zimbabwe resumed exporting diamonds from Marange last month after the Kimberly Process that regulates the world diamond industry agreed to lift a ban on the gemstones.