A 29.46 carat diamond was unearthed in a mine in Panna district of Madhya Pradesh, district authorities said on Friday.
The stone is likely to fetch a price of Rs 1.5 to 2 crore in the market, said local experts.
Panna district collector Karmveer Sharma said Brajesh Upadhyay, a miner, found the high-quality diamond during excavation at Krishna Kalyanpur, 15 km from here.
Upadhyay deposited it with the local Diamond Office (Hira Karyalaya) and it would be auctioned, he said.
The person who discovers the diamond gets proceeds of the auction, minus government royalty and taxes.
"I have been working in the mines for the last 25 years. I have found smaller diamonds, but this is for the first time I have got a diamond of this proportions.
The district is estimated to have reserves of 12 lakh carats of diamonds.
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