India, ALROSA Sign MOU to Increase Cooperation

Rapaport reported that India’s Gem & Jewellery Export Promotion Council (GJEPC) and Russian diamond producer ALROSA (MCX:ALNU) have signed a memorandum of understanding (MOU). Under the MOU, the parties will work to improve their cooperation.

As quoted in the market news:

ALROSA and GJEPC agreed to exchange information on how to engage their sectors, share diamond trade statistics and market research, address Kimberley Process issues and jointly work to ensure separate sales of natural diamonds, diamond jewelry and synthetics.

The agreement was signed at an official ceremony in Moscow on April 10 April by Fyodor Andreev, ALROSA’s president, and Vipul Shah, the chairman of GJEPC.

Click here to read the full Rapaport report.