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Alrosa Moves to Strengthen India Base

Bharat Diamond Bourse location will help deepen ties with local manufacturers.
Apr 22, 2018 9:27 AM   By Rapaport News
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RAPAPORT... Russian diamond miner Alrosa has opened its first office in Mumbai as part of an effort to strengthen ties with Indian diamond manufacturers.

The new location, housed in the Bharat Diamond Bourse, will be headed by Jim Vimadalal (pictured, left), a former Rio Tinto and Swarovski executive. His duties will include procuring and negotiating with new clients, exploring partnership possibilities, and working with trade bodies.

“Our India office will drive the interactions with the industry stakeholders more efficiently,” he said last week. “Going forward, the cooperation between Alrosa and the polished-diamond manufacturers in India will continue to grow, and opening the representative office in India is a logical step in that direction.”

The company is also looking for opportunities to work with major jewelry retailers in India, said Evgeny Agureev, director of Alrosa USO, the miner’s main sales division. “The Indian diamond jewelry market has a huge growth potential, including strong opportunities to strengthen the demand for diamond jewelry at the retail end,” he added, without expanding on the plans.

Alrosa currently has 15 long-term contracts with Indian diamond-manufacturing companies for the 2018-to-2020 period. The Russian-based miner supplied nearly $700 million-worth of diamonds to the Indian market in 2017.
Tags: Alrosa, Bharat Diamond Bourse, Evgeny Agureev, India, Jim Vimadalal, mumbai, Rapaport News, Rio Tinto, Swarovski
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