Russian diamond mining company Alrosa, which has set up its representative office in the city, is looking at increasing direct clients and plans to launch its own brand of diamonds by the end of this year.
"We have 15 long term direct contracts with diamond manufacturing companies in India and after setting up this office in India, which will mainly be for marketing activities and information, we will work towards increasing our long term direct client base in India," Evgeny Agureev, member of the executive committee and director of the United Selling Organisation of Alrosa told reporters here.
He said, Alrosa is also planning to launch its own brand by the end of this year.
Other mining companies have brands, including Rio Tinto's Nazraana and De Beers Forevermark.
The Russian mining company will also work closely with industry body Gem Jewellery Export Promotion Council, RBI and the banks to create a conducive atmosphere for the industry in India, Agureev said.
"We will communicate with banks, regulators and GJEPC on sectoral issues and work towards creating interesting business models that will maximise additional value to the industry," he added.
When asked, if this was a good time to enter India when the gem and jewellery industry is fighting the fallout of the Rs 13,000-crore Nirav Modi-PNB scam, he said, the timing is very apt as this will restore a positive sentiment across the industry and send the message that the diamond sector is still strong as foreign players are interested in India.
The mining company will also encourage Indian manufacturers to set up facilities and subsidiaries in Russia, Agureev said.
Alrosa accounts for about 30 per cent of the global rough diamond supply.
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