Industry News by Nemesis

Panna Rough Diamonds to be Auctioned in Surat

August 21, 2019

Rough diamonds from mines in Panna district of Madhya Pradesh in India could soon be auctioned in Surat. A team from the National Mineral Development Corporation of the Government of India, which runs the mines in Madhya Pradesh, is expected to come to Surat on August 26 to carry out a survey ahead of conducting such  an auction, as per a report in Indian Express. 

The Gem & Jewellery Export Promotion Council’s Gujarat Regional Chairman Dinesh Navadia said: “We have requested them to come to Surat to auction rough diamonds. They will come on August 26 for a survey and check out our infrastructure. We have taken an entire floor in Gujarat Hira Bourse at Ichhapore in Surat on rent for the purpose of auctioning rough diamonds. We have developed the floor and named it the Surat International Diatrade Centre.”  

Navadia said they would charge rent from auctioneers who would be chosen through a tender process, including from Surat”. According to NMDC, regular auctions of rough diamonds have been conducted in Mumbai and Jaipur, but this was the first time that they had been approached with a proposal to carry out an auction in Surat city, and they hope it would be a good opportunity. 


Source: Rough&Polished

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