The rough diamonds for the auction will be seen at Surat for the first time since 1998

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Mumbai, Ta. 18 September 2019, Wednesday

The rough diamonds extracted from the mines of India will be submitted by the government-owned NMDC to Surat for auction. The auction will be held in collaboration with the James & Jewelry Export Promotion Council.

Up to 2 rough diamonds were displayed at Surat. Thereafter, his auction was done online but was displayed at Panna in Madhya Pradesh. Now it is being submitted again at Surat.

A rough diamond worth Rs 1 crore will be introduced at a center in Surat, local market sources said. These diamonds will be opened before the sale at the auction.

In the financial year 1-3, India imported 8.5 million carats of roughly worth $ 1.8 billion. In India only a small quantity of diamonds is extracted from the mine. The NMDC produces roughly 2.5 carats of rye a year.

From fiscal year 1-5, NMDC has started Diamonds Auction online instead of physical. Before every auction, Diamonds was introduced to Panna.

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