SRDSIL signs MOU with Zimbabwe for rough diamond supply

Surat Rough Diamond Sourcing India Ltd(SRDSIL),a consortium formed by leading Diamond traders of Surat in recent past, has stuck $1.2-billion (R5,520-crore per year) deal with the government of Zimabwe for steady supply of rough diamonds. In exchange, the Gujarat based traders will train 1 000 young Zimbabweans in designing, cutting and polishing diamonds and also help Zimbabwe in developing a strong diamond industry.

MOU between the Surat Rough Diamond Sourcing India Ltd (SRDSIL) and representatives of Zimbabwe Diamond Consortium (ZDC) has been signed in Harare, under which, SRDSIL will buy a minimum of $100-million worth of rough diamonds every month.

More than 90 per cent of the world’s diamonds are said to be cut and polished in Surat. A delegation from Zimbabwe led by a minister had paid visit to Surat early this month for first round of discussion. Surat diamond baron delegation is in Zimbabwe presently.

1 comment for “SRDSIL signs MOU with Zimbabwe for rough diamond supply

  1. Soham
    October 26, 2010 at 9:33 pm

    Will this not be against the interest of India in the long run? They will learn the tricks of the trade and start the work there only instead of sending to India.

    [Reply]

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