Indian diamond cutters polish about 14 of every 15 of the world’s gems and imported about 153 million carats of rough diamonds in the financial year ended 31 March. Photo: BloombergMumbai: The world’s first diamond futures exchange will begin trading in India on Monday, enabling companies in the largest producer of the cut and polished gems to better hedge price risks. The futures, two-and-a-half years in the making, followed talks with the ministry of finance and the Securities and Exchange Board of India, Prasad said. Polishers source their gems from De Beers, the world’s biggest diamond producer, and also through direct imports from some producing nations. The exchange has 20 large diamond companies including Rosy Blue (India) Pvt.

Source: Mint August 28, 2017 06:00 UTC