An Indian diamond cutting factory called Primorsk Diamond will open in Vladivostok on March 19. The initial sum of investment is about USD 500 thousand.
As a Rosbalt correspondent was informed by the press office of the Primorsk Territory administration, the diamonds will initially be bought in Yakutia. Indian technology will be used to cut the raw diamonds and the most important equipment has already been purchased and installed. Primorsk Territory Deputy Governor Victor Gorchakov said that the local government is supporting the project. He added that 'if the project is successful there will be more Indian investment in the local economy.'
India currently supplies more than 90% of the small diamonds on the world market and Indians are renowned experts at cutting small gem diamonds. This means that the new Indian diamond cutting factory in Vladivostok may bring Primorsk diamonds onto the world market.