Business as usual, assures Russia's Alrosa as Indian diamond trade frets

While almost 50% of the Indian industry's rough diamonds come from Africa, Alrosa is the second biggest source with 30-35% share

At a time when Indian banks are temporarily freezing fresh transactions of Russian entities, the Indian diamond industry is bracing itself for an impact on exports in the short run. This is despite the largest Russian rough diamonds supplier Alrosa assuring the industry that its business was "as usual" even as the company had necessary resources to "ensure normal operation in the current circumstances".

While Russia is nowhere among the top export destinations for cut and polished diamonds from India, of which Surat is the largest cluster comprising over 90 per cent of business, the country's Alrosa is one of the