Real is rare and Diamonds are for ever

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World’s seven leading diamond mining companies ALROSA, De Beers, Dominion Diamond, Gem Diamonds, Petra Diamonds, and Rio Tinto, is eyeing to boost diamond consumption in the Indian market. Out of its total global marketing budget of $70 million, the Diamond Producers Association is hoping to spend $ 7 million in India in 2018, with and advertisement campaign in India ” Real is Rare, Real is Diamond”.

Jean-Marc Lieberherr, CEO of DPA, and former CO and MD of Rio Tinto said “India with a population of over 1.25 billion, although at present a small market of 7 per cent of global diamond compared to 47 per cent by US and 16 per cent by China, has a vast potential for diamond trade growth as it can grow more than the GDP of India every year. Currently India consumes only $1.5 billion worth cut and polished diamonds. DPA represents 75 per cent of world’s diamond production, have decided to make India as the second Priority diamond market after the US, as India is the natural home of diamonds, where 90 per cent of the world’s diamonds are being cut and polished and it is only natural that the DPA should focus on working with local trade to realise, the potential of India, being the natural home of the precious stone as a leading diamond market. Our objective is to create an emotional and cultural bond of rich and famous Indians with the diamonds”.

The history of world famous and oldest Kohinoor Diamond ( Mountain of Light) emerged from India more than 5000 years ago. In 1849, after the conquest of the Punjab by British forces, the properties of the Sikh Empire were confiscated and transferred to the treasury of the British East India Company in Lahore. The diamond was then shipped to Britain on a ship where cholera broke out and was handed over to Queen Victoria in July 1850.